The economy isn't the only thing that is uncertain these days. So are lutheran school buyers, many of whom are waiting to pull the trigger on their next acquisition.
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In a skittish economy, lutheran school sellers can access several strategies to receive fair market value from entrepreneurs who understand the value of a good business investment.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your lutheran school. 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.
It's obvious that you're going to need to hire an attorney to finalize the sale of your lutheran school. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Negotiation Exit Strategy
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. It's not unusual for a lutheran school sale negotiation to reach an impasse over price or other concessions. 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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