Business Exit Planning
Selling a Midwives Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet midwives businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Undaunted by economic conditions, many midwives business sellers are achieving their sale goals through deliberate sale strategies.
Signs You're in Over Your Head
The midwives business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. 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.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. 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 midwives business until the prospect has been qualified as a serious buyer.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a midwives business up for sale. With interest rates at all-time lows, it's easy to see why midwives businesses are an appealing investment opportunity for savvy investors. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. Market conditions can be intimidating. But your larger concern should be whether or not your business is ready to be presented to qualified sale prospects.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs