An assortment of hurdles and obstacles stand between you and the successful sale of your fan mail service.
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Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to fan mail services that exhibit strong financials and potential for future growth.
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. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Average Preparation Time
There are no effective shortcuts for selling a fan mail service. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey fan mail service operation. Since all of this takes time and effort, a fan mail service can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Working with Accountants
Accountants lay the financial groundwork for a business sale. 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.
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