How to Sell a Niche Market Business
Selling an Executive Search Firms Business
There's a right way and a wrong way to sell an executive search firms business in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
In a down economy, many executive search firms business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of executive search firms businesses that are actually for sale.
Although it takes hard work and dedication, if it's time to exit your executive search firms business there is a good chance you can sell it for a good price -- even in today's market.
Average Timeframes
Hoping for a quick executive search firms business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. On average, it takes a minimum of six months to prepare an executive search firms business for sale and many sellers spend a year or more positioning their business to command a higher price. In a good market, an attractive executive search firms business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Sale Documents
In an executive search firms business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Negotiation Exit Strategy
The negotiation stage of an executive search firms business can seem never-ending. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In an executive search firms business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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