Niche Market Exit Planning Tips
Selling a Business Center
A lot can go wrong during the sale of a business center these days. We'll tell you how to keep your sale and your future plans on track.
You need to get a good price for your business center. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
If you're looking for a reason to wait to put your business on the market, you'll find it. Selling a business center isn't easy, but we believe sellers can achieve their goals in any economic environment.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a business center up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on business centers. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a business center without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your business center. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. If you aren't familiar with typical business center concessions, consult with a professional to learn how you can build incentives into your deal.
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