November 11, 2019  
 
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Selling a Library Management and Research Services Business

In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your library management and research services business.

Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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At Gaebler, we're seeing library management and research services business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.

Pre-Sale Checklist

There is a lot of work that needs to be done before you're ready to sell your library management and research services business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

Leveraging External Resources

At some point, you're going to need help selling your library management and research services business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.

More Exit Planning Articles

Given your interest in exit planning and in library management and research services businesses, you might find these additional resources to be of interest.

Marketing a Library Management and Research Services Business

Why Most Businesses Do Not Have Exit Plans

Terms of Investment Banking Agreement

Selling Part of a Business


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