Exit Planning Techniques By Market
Selling a Foster Care Services Business
Is the economy still a little shaky for a business sale? Sure it is. Yet foster care services businesses continue to sell at a brisk pace, regardless of the economy.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Preparing Family Members
You're ready to sell your foster care services business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a foster care services business has to include ample communication and shared decision-making.
Selecting a Broker
First-rate business brokers deliver prospects and profits to their clients. In the foster care services business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling foster care services businesses.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your foster care services business until the prospect has been qualified as a serious buyer.
Share this article
Additional Resources for Entrepreneurs