December 3, 2020 is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

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Selling a Business


Selling a Financial Planning Business

You've invested time, effort, and creativity into building your financial planning business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.

It's a fact: Successful business sales take time.
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Many business owners don't know that financial planning businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.

Seller Financing

Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. As you prepare for the sale of your financial planning business, expect to be asked to finance a substantial part of the sale price.

Pre-Sale Checklist

The upfront time you investment in the sale of your financial planning business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

Broker vs. No Broker

Anyone who has ever sold a financial planning business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your financial planning business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in financial planning businesses, you might find these additional resources to be of interest.

Marketing a Financial Planning Business

Role of Location In Selling a Business

How to Sell a Business

Five Tips for Maximizing Your Business Sale Price

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If starting a financial planning business is on your agenda, these helpul resources may be just what you've been looking for:

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