Exit Planning Tips
Selling a Human Resource Development Training Business
No one said selling your business in a depressed economy would be easy. Fortunately, a human resource development training business sale isn't as scary as it seems.
You've invested too much in your human resource development training business to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
However, serious buyers also understand the value of a good human resource development training business. So for human resource development training business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized human resource development training business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
When the Sale Goes Off-Course
Many human resource development training business are tempted to save brokerage fees by selling their businesses on their own. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the human resource development training business is coming to an end, the time to sell is now. Some experts are telling human resource development training business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your human resource development training business now, there is a high probability that you can sell it in the current market. With fewer human resource development training businesses on the market, there are ample opportunities for sellers to capture the attention of qualified buyers.
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