November 18, 2019  
 
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Selling an Answering and Referral Service

No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.

In any economy, there is a right way and a wrong way to sell a business.
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Growth-minded entrepreneurs also find an appealing answering and referral service hard to pass up. Financial statements and ROI are essential in converting modern answering and referral service prospects into buyers.

Are You the Right Person to Sell Your 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 answering and referral service 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 answering and referral service to gain an objective sense of fair market value.

Why Confidentiality Matters

Highly publicized answering and referral service sales are risky answering and referral servicesales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.

Pre-Sale Checklist

The pre-sale checklist for an answering and referral service is long and is full of critical tasks that will likely determine the success (or failure) of your sale. 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.

More Exit Planning Articles

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

Marketing an Answering and Referral Service

Why Hire an Exit Planning Consultant

Family Business Exit Plans

How Much Is My Business Worth?


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Need Information on Starting an Answering & Referral Service?

If starting an answering and referral service is on your agenda, these guides will help you get started:

Starting an Answering & Referral Service

Do You Market Products or Services to Answering & Referral Services?

If you consider answering and referral services to be sales prospects, this isn't the best resource for you on our site. Try these useful resources instead:

Selling to Answering and Referral Services

Mailing Lists for Answering and Referral Services

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