Niche Exit Planning Strategies
Selling a Design and Communications Agencies Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your design and communications agencies business.
Personal and professional concerns surround the sale of a design and communications agencies business. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your design and communications agencies business a success.
The good news is that ambitious entrepreneurs continue to see design and communications agencies businesses as a smart business investment -- and the market is rewarding owners who are willing to invest time and energy in their sale.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some design and communications agencies business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a design and communications agencies business without outside assistance. Although it's wise to recruit a business broker, brokerage isn't your only concern. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
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