Niche Market Exit Planning Tips
Selling a Business and Professional Associations, Organizations, and Foundations Business
It's a misconception that no one is buying business and professional associations, organizations, and foundations businesses these days. Savvy entrepreneurs see business and professional associations, organizations, and foundations business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You won't find any magic formulas for selling a business and professional associations, organizations, and foundations business, especially while the market is struggling to overcome the perceptions created by a down economy.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your business and professional associations, organizations, and foundations business can be sold at or above fair market value right now.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your business and professional associations, organizations, and foundations business until the prospect has been qualified as a serious buyer.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
How to Identify Prospective Buyers
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
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