The buzz in the marketplace is that now isn't the right time to sell a liquor license consultants business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
(article continues below)
Too often liquor license consultants business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
In a liquor license consultants business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the liquor license consultants business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Before You Sell
The pre-sale checklist for a liquor license consultants business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
Given your interest in exit planning and in liquor license consultants businesses, you might find these additional resources to be of interest.
If starting a liquor license consultants business is on your agenda, these helpul resources may be just what you've been looking for:
If you want information on how to sell to liquor license consultants businesses, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.