Mastering Niche Market Exit Planning
Selling a Newsletters Business
When it's time to sell your newsletters business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
You won't find any magic formulas for selling a newsletters business, especially while the market is struggling to overcome the perceptions created by a down economy.
Does that mean selling your newsletters business will be a piece of cake? No -- but you might be surprised to learn that the newsletters businesses that are selling these days are finding success though simple, common sense selling strategies.
It's impossible to predict the emotional highs and lows you will experience during the sale of your newsletters business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your newsletters business is worth. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions newsletters business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your newsletters business. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
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