Selling a Business Advice
Selling an Insurance Retirement Annuities and Pension Business
A good business is about more than dollars and sense. To make your insurance retirement annuities and pension business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an insurance retirement annuities and pension business sale works.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a insurance retirement annuities and pension business sale. To improve sale outcomes, you will simply need to tailor your insurance retirement annuities and pension business to today's buyers.
Understanding Market Timing
Now may be the best time to sell an insurance retirement annuities and pension business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on insurance retirement annuities and pension businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the insurance retirement annuities and pension business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling insurance retirement annuities and pension businesses.
Buyer Concessions
Most insurance retirement annuities and pension business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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