How to Sell a Niche Market Business
Selling an Executive Training Consultant
The sale of an executive training consultant can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
In any economy, there is a right way and a wrong way to sell a business.
Undaunted by economic conditions, many executive training consultant sellers are achieving their sale goals through deliberate sale strategies.
Seller Financing
Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your executive training consultant are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some executive training consultant sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Post-Sale Details
As your executive training consultantsale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.
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