Tips to Improve Exit Planning

Selling a Junior College or Technical Institute

Is the economy still a little shaky for a business sale? Sure it is. Yet junior college or technical institute haven't heard the news and are reporting steady action on the business-for-sale market.

Personal and professional concerns surround the sale of a junior college or technical institute. In our experience, a common owner concern is how the sale will affect customers and employees.

Junior College or Technical Institute

The economy hasn't squashed the market for junior college or technical institute. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.

Tapping Into Business Networks

Today's junior college or technical institute buyers can be found in a variety of locations. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.

Moving On

The decision to sell your junior college or technical institute can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.

Equipment and Inventory Concerns

It's incumbent on buyers to commission their own appraisal of your junior college or technical institute's real assets. Your appraisal should occur before you put your business on the market. Without an accurate assessment of asset values it's impossible to intelligently negotiate on price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

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