Despite your best intentions, great business sales don't happen overnight.
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Despite the conventional wisdom, we believe current economic conditions are right for selling a montessori school. Here's how to do it . . .
How Much Does It Cost to Sell a montessori school?
The calculation of your asking price should include a buffer to cover the expense of the sale process. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of a montessori school sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Preparing Family Members
Many sellers embarked on their montessori school sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the montessori school. The sale of the business will likely result in new family dynamics. Subsequently, selling a montessori school should allow opportunities for all family members to share their feelings and offer input about the sale process.
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the montessori school on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Given your interest in exit planning and in montessori schools, you might find these additional resources to be of interest.
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