Profitable Niche Market Exit Plans
Selling an Outplacement Services Business
You've heard the naysayers - now isn't the time to sell a outplacement services business. But what they don't know is that many entrepreneurs see outplacement services businesses as a smart business investment.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
With the right business model in hand, a new outplacement service firm can find plenty of opportunities in the current marketplace.
To achieve your goals, you'll need to know the market as well as key business selling techniques. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Preparing Family Members
You're ready to sell your outplacement services business, but is your family prepared for the transition? In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the outplacement services business. The sale of the business will likely result in new family dynamics. Subsequently, selling an outplacement services business has to include ample communication and shared decision-making.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in outplacement services business sales. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Successful sales walk a fine line between total confidentiality and aggressive promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential outplacement services business sale.
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