Niche Exit Planning Strategies
Selling a Data Processing Consulting Firm
Is the economy still a little shaky for a business sale? Sure it is. Yet data processing consulting firms haven't heard the news and are reporting steady action on the business-for-sale market.
Like it or not, a data processing consulting firm sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. In our experience, a common owner concern is how the sale will affect customers and employees.
Despite the conventional wisdom, we believe current economic conditions are right for selling a data processing consulting firm. Here's how to do it . . .
Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a data processing consulting firm can translate into a dead deal. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. In the data processing consulting firm 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 data processing consulting firms.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium data processing consulting firm opportunity.
Share this article
Additional Resources for Entrepreneurs