November 16, 2019  
 
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Selling a Business

 

Selling a Speech and Language Consulting Business

The decision to sell your speech and language consulting business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.

Dire economic forecasts have forced many speech and language consulting business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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They require careful planning and an intentional strategy that emphasizes your speech and language consulting business's strengths and meets the needs of the marketplace. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.

Emotional Considerations

It's impossible to predict the emotional highs and lows you will experience during the sale of your speech and language consulting business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.

Tips for Seller Financing

Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized speech and language consulting business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. As you prepare for the sale of your speech and language consulting business, expect to be asked to finance a substantial part of the sale price.

The Best Person to Sell Your Speech & Language Consulting Business

An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your speech and language consulting business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the speech and language consulting business to gain an objective sense of fair market value.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

How To Choose An Investment Banker

Marketing a Speech and Language Consulting Business

Role of Location In Selling a Business


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