Business Exit Planning
Selling a Marketing Consultants Business
Owning a marketing consultants business hasn't always been a bed of roses, but it's been worth the effort. Now the trick is to convince cautious buyers that your operation is worth the asking price.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a marketing consultants business.
Despite the overall mood of the marketplace, marketing consultants businesses are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
In the current marketplace, seller concessions can make the difference between a business sale and a marketing consultants business that languishes on the market for months or even years. Not surprisingly, seller financing is routinely requested by today's buyers. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
There is a lot of work that needs to be done before you're ready to sell your marketing consultants business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Signs You're in Over Your Head
Many marketing consultants 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. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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