Exit Planning Advice By Market
Selling an Architectural Planning Consulting Firm
There is a lot of confusion about the best way to sell an architectural planning consulting firm in today's economy. We'll tell you how to keep your sale and your future plans on track.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
In order to market an architectural planning consulting firm these days, sellers need to make a strong case for buyers to purchase at or near the asking price.
The Best Person to Sell Your Architectural Planning Consulting Firm
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 architectural planning consulting firm 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. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. Other common seller concessions include staying on the mentor the new owner, non-compete clauses, and working as a consultant to mitigate the impact of new ownership.
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