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Selling a College and University Online Courses Business
The decision to sell your college and university online courses business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
It's a fact: Successful business sales take time.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your college and university online courses business can be sold at or above fair market value right now.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in college and university online courses 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.
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. You're concerned about confidentiality, and rightfully so. 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 college and university online courses 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.
Setting the Stage
Effective college and university online courses business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a college and university online courses business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium college and university online courses business opportunity.
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