Smart Exit Planning Strategies for Niche Markets
Selling a Guardians and Conservators Business
Economic uncertainty influences the timing of many guardians and conservators business sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your guardians and conservators business on the market.
It takes dedication to sell a guardians and conservators business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your guardians and conservators business.
Brokerage Benefits
Brokers give guardians and conservators business sellers distinct advantages in the marketplace. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. 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.
Preparing for What's Next
So you've decided to sell your guardians and conservators business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great guardians and conservators business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your guardians and conservators business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
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