Exit Planning Techniques By Market
Selling a Foster Care Agencies Business
Is the economy still a little shaky for a business sale? Sure it is. Yet foster care agencies businesses continue to sell at a brisk pace, regardless of the economy.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact foster care agencies business sales nearly as much as sale strategy.
Despite the overall mood of the marketplace, foster care agencies businesses are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
Average Timeframes
Hoping for a quick foster care agencies business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your foster care agencies business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the foster care agencies business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your foster care agencies business on BizBuySell.com and other online business-for-sale sites.
Dealing with Tire Kickers
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. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your foster care agencies business until the prospect has been qualified as a serious buyer.
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