In a down economy, many learning center sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of learning centers that are actually for sale.
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If your exit strategy involves selling a learning center these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
Average Preparation Time
It's critical to properly plan for the sale ofa learning center. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your learning center for the marketplace. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the learning center industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In a learning center sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
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