The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy an academic specialty school, capital restrictions are holding them back.
(article continues below)
Too often academic specialty school sellers cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Timing Your academic specialty school Sale
When is it the right time to sell your academic specialty school? If you're asking the question, now may be the time to put your business on the market. Some experts are telling academic specialty school sellers to put their plans on hold until the economy fully rebounds. At Gaebler, we have a much more optimistic view of your chances in the academic specialty school-for-sale market. The inventory of what we consider to be quality academic specialty schools is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based academic specialty school sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of an academic specialty school sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Given your interest in exit planning and in academic specialty schools, you might find these additional resources to be of interest.
If starting an academic specialty school is on your agenda, these guides will help you get started:
If you want information on how to sell to academic specialty schools, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, try our directory of exit planning guides below.