How to Sell a Niche Market Business
Selling an Electronic Bulletin Boards Business
Looking for shortcuts? You won't find them when you sell an electronic bulletin boards business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
The process of selling an electronic bulletin boards business can be one of the most stressful experiences of your entrepreneurial career.
Too often electronic bulletin boards business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. In an electronic bulletin boards business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Although brokerage fees can be substantial, the right broker can reduce the amount of time your electronic bulletin boards business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Understanding Market Timing
Now may be the best time to sell an electronic bulletin boards business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on electronic bulletin boards businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
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