How to Sell a Niche Market Business
Selling an Elderly Companion Service
Is the economy still a little shaky for a business sale? Sure it is. Yet elderly companion services haven't heard the news and are reporting steady action on the business-for-sale market.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
You'll always have an excuse for not putting your business on the market. Selling a elderly companion service isn't easy, but we believe sellers can achieve their goals in any economic environment.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your elderly companion service goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In an elderly companion service sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. There are a lot of naysayers out there advising elderly companion service 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 elderly companion service-for-sale market. The inventory of what we consider to be quality elderly companion services is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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