The buzz in the marketplace is that now isn't the right time to sell a bodyguard services business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
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To sell a bodyguard services business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Laying the Groundwork
A successful bodyguard services business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a bodyguard services business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium bodyguard services business opportunity.
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. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
When the Sale Goes Off-Course
Many bodyguard services business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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