How to Sell a Niche Market Business
Selling an Executive Suites and Offices Business
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Fortunately, a executive suites and offices business sale isn't as scary as it seems.
You won't find any magic formulas for selling an executive suites and offices business, especially while the market is struggling to overcome the perceptions created by a down economy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to executive suites and offices businesses that exhibit strong financials and potential for future growth.
Sweetening the Deal
Today's executive suites and offices business buyers expect sellers to offer concessions to persuade them to close the deal. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young executive suites and offices business owner, they can be critical launching points for their ownership journey.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Most executive suites and offices business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Preparing Family Members
Many sellers embarked on their executive suites and offices business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. To keep the family intact, the sale of an executive suites and offices business often begins with a family conversation and a mutual decision to move on the next stage of life.
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