The decision to sell a colleges and universities business is never easy. In our experience, a common owner concern is how the sale will affect customers and employees.
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The good news is that ambitious entrepreneurs continue to see colleges and universities businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
Understanding Market Timing
Now may be the best time to sell a colleges and universities business. Although the economy is generally struggling, low interest rates make colleges and universities businesses more attractive to entrepreneurs who want to get in the game. Sooner or later, rates will rise, increasing the risk for prospective buyers of colleges and universities businesses. At Gaebler, we recognize the value of timing the sale of your colleges and universities business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
Should I Hire a Business Broker?
When selling a colleges and universities business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your colleges and universities business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great colleges and universities business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your colleges and universities business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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