November 12, 2019  
 
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Selling a Literary Agents Business

You've learned a lot during your tenure as a literary agents business owner. The next step is to position your business for the demands of the business-for-sale marketplace.

Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your literary agents business.

When Is the Right Time to Sell?

If you're feeling like your tenure as the owner of the literary agents business is coming to an end, the time to sell is now. Some experts are telling literary agents business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the literary agents business marketplace. The inventory of what we consider to be quality literary agents businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

The Case for Confidentiality

In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential literary agents business sale.

Adjusting Expectations

If you're smart, you entered your literary agents business with a set of assumptions about what it would achieve. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your literary agents business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.

More Exit Planning Articles

Given your interest in exit planning and in literary agents businesses, you might find these additional resources to be of interest.

Marketing a Literary Agents Business

Terms of Investment Banking Agreement

Why Hire an Exit Planning Consultant

Entrepreneurial Exit Strategies


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