Niche Market Exit Planning Tips
Selling a Business Financing Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet business financing businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
At Gaebler, we think that's a mistake because with adequate preparation and the right sale strategy, this might be the best time to put your business financing business on the market.
Preparing Family Members
Many sellers embarked on their business financing business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the business financing business. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. Subsequently, selling a business financing business has to include ample communication and shared decision-making.
The Case for Confidentiality
Highly publicized business financing business sales are risky business financing businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your business financing business on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Successful sales walk a fine line between total confidentiality and aggressive promotion. If confidentiality is important to you (and it should be), your best bet is to consult with a professional business broker about maintaining a confidential business financing business sale.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your business financing business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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