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Selling a Credit Card Plans and Services Business
Don't believe anyone who tells you it's easy to sell a credit card plans and services business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Cutting corners never pays off, especially in the sale of a credit card plans and services business.
Qualified buyers are constantly looking for attractive credit card plans and services businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
What to Expect in a Credit Card Plans & Services Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your credit card plans and services business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your credit card plans and services business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your credit card plans and services business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your credit card plans and services business until the prospect has been qualified as a serious buyer.
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