How to Sell a Niche Market Business
Selling an Electronic Instructional Materials Business
A good business is about more than dollars and sense. To make your electronic instructional materials business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
The buzz in the marketplace is that now isn't the right time to sell an electronic instructional materials business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
Most electronic instructional materials businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell an electronic instructional materials business without outside assistance. The enlistment of a qualified business broker is an excellent first step. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your electronic instructional materials business, you can avoid painful tax and legal complications both before and after closing.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Seller financing is one way to get around the capital deficit of an employee-based electronic instructional materials business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Preparing for What's Next
The decision to sell your electronic instructional materials business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your electronic instructional materials business attractive to buyers.
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