Selling a Business Advice
Selling an Information Bureaus and Services Business
We hear from a lot of business owners who are timid about listing their information bureaus and services business. Despite the mood of the market, we think there are still opportunities to receive a good price for your information bureaus and services business. Here's what you need to know . . .
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Most information bureaus and services businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Pre-Sale Checklist
The pre-sale checklist for an information bureaus and services business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful information bureaus and services business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the information bureaus and services business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Tips for Working with A Business Broker
Business brokers are professional business sellers. It's typical for information bureaus and services business to rely on brokers to reduce market time and increase the final sales price. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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