Exit Planning Techniques By Market
Selling a Funeral Planning Business
Maybe you're counting on your funeral planning business to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
It's a fact: Successful business sales take time.
Although it takes hard work and dedication, if it's time to exit your funeral planning business there is a good chance you can sell it for a good price -- even in today's market.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your funeral planning business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your funeral planning business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your funeral planning business. 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 funeral planning business until the prospect has been qualified as a serious buyer.
Promoting a funeral planning business Sale
Profitable funeral planning business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. Business brokers are skilled at publicizing funeral planning business sales while maintaining the confidentiality that is critical to your business.
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