Niche Market Exit Planning Tips
Selling a Becoming a Zoning Consultant
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a zoning consulting business sale isn't as scary as it seems.
When it comes to selling a zoning consulting business, there are no shortcuts to success.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Maximizing Sales Price
There are no simple ways to sell a zoning consulting business. If you don't know what you're doing, your business could languish on the market for months or even years. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their zoning consulting businesses.
The pre-sale checklist for a zoning consulting business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
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