Business Exit Planning
Selling a Memory Improvement Training Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the memory improvement training business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a memory improvement training business in the current economic environment.
The buzz in the marketplace is that now isn't the right time to sell a memory improvement training business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
But at Gaebler, we see memory improvement training businesses still selling at a brisk pace. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your memory improvement training business. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a memory improvement training business sale. If you need to compensate employees to assist with the sale, their services should also be considered.
Sale Preparations for Your Memory Improvement Training Business
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Successful memory improvement training business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your memory improvement training business. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Share this article
Additional Resources for Entrepreneurs