Sell a Business Tips
Selling a Secretarial School
Although a secretarial school may not be completely recession-proof, the best companies can survive nearly any storm. All it takes is a strategy to identify solid prospects and convert them to buyers.
Dire economic forecasts have forced many secretarial school sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Success is a factor of preparation, execution and a keen eye for the market. But for business sellers, the process begins with having the right mental attitude.
How Much Does It Cost to Sell a secretarial school?
In a secretarial school sale, pricing is based on a number of factors, including the costs incurred during the sale. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of a secretarial school sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Selling a Secretarial School to an Employee
There are both benefits and drawbacks to selling a secretarial school to an employee. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your secretarial school, a sale to an employee is probably not a possibility.
Current Market Conditions
At first glance, today's market would seem to be a hostile place for secretarial school sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. Like it or not, the time to sell your secretarial school may be right now, as long as your willing to adequately prepare your business for the marketplace.
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