January 25, 2021  
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Selling a Business


Selling a Child Foster Care Business

We hear from a lot of business owners who are timid about listing their child foster care business. Despite the mood of the market, we think there are still opportunities to receive a good price for your child foster care business. Here's what you need to know . . .

These days, the small and medium-sized business market is more confusing than ever before. Capital is scarce and many buyers simply can't afford the entry requirements for a child foster care business.
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Qualified buyers are constantly looking for attractive child foster care businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.

Team-Based Negotiation Strategies

Even if you hire a business broker to facilitate the sale of your child foster care business, it's likely that you will be the front line negotiator. A solo negotiation is a surefire way to may a tough job even tougher. Good negotiation teams support sellers, giving them insight and advice about how to overcome buyer objections and drive the process forward to a successful conclusion.

What to Expect in a Child Foster Care Business Sale

The sale of a child foster care business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a child foster care business sale by setting realistic expectations before you list your business.

Working with Accountants

Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Marketing a Child Foster Care Business

Family Business Exit Plans

Conversation Board

What's your experience regarding how to sell a child foster care business? We love to receive feedback from the industry and welcome your comments and questions.

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