How to Sell a Niche Market Business
Selling an Escrow Title Companies Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your escrow title company.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for an escrow title company.
Title and escrow companies help real estate closings proceed smoothly without any snags.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a escrow title company.
Maximizing Sales Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell an escrow title company. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. If you try to sell your business without a broker, your time will be consumed by the details of the sale. Subsequently, you'll be distracted from the demands of your auto supply store, business will suffer, and the sale price you receive for your company will be dramatically reduced. So what's the lesson? In most cases, hiring a business broker is one of the best things you can do to maximize sales price.
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. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. 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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