Niche Exit Planning Strategies
Selling a Divorce and Mediation Services Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your divorce and mediation services business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
In any economy, there is a right way and a wrong way to sell a business.
Does that mean selling your divorce and mediation services business will be a piece of cake? No -- but you might be surprised to learn that the divorce and mediation services businesses that are selling these days are finding success though simple, common sense selling strategies.
Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy divorce and mediation services businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your divorce and mediation services business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Sale Documents
We run into a lot of divorce and mediation services business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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