You won't find any magic formulas for selling a financial counselors business, especially while the market is struggling to overcome the perceptions created by a down economy.
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However, serious buyers also understand the value of a good financial counselors business. Financial statements and ROI are essential in converting modern financial counselors business prospects into buyers.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based financial counselors business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Advantages of Hiring a Broker
There are many reasons why hiring a broker makes sense in financial counselors business sales. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Promoting a financial counselors business Sale
Successful financial counselors business sales incorporate comprehensive advertising plans. But confidentiality issues are a hurdle you'll need to address before you put your financial counselors business on the market. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. Business brokers are skilled at publicizing financial counselors business sales while maintaining the confidentiality that is critical to your business.
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