The economy isn't the only thing that is uncertain these days. So are personal loans business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
When Is the Right Time to Sell?
When is it the right time to sell your personal loans business? If you're asking the question, now may be the time to put your business on the market. There are a lot of naysayers out there advising personal loans business sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the personal loans business marketplace. The inventory of what we consider to be quality personal loans businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Signs You're in Over Your Head
The personal loans business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. But for every successful unassisted sale, several other personal loans businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. Hire a broker and conduct a professional appraisal ASAP.
It's not unusual for personal loans business sellers to feel overwhelmed when they negotiate the sale of their business. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. Good negotiation teams support sellers, giving them insight and advice about how to overcome buyer objections and drive the process forward to a successful conclusion.
Given your interest in exit planning and in personal loans businesses, you might find these additional resources to be of interest.
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