Mastering Niche Market Exit Planning
Selling a Notaries Public Business
Owning a notaries public business hasn't always been a bed of roses, but it's been worth the effort. The next step is to position your business for the demands of the business-for-sale marketplace.
Today's notaries public business buyers tend to be more skeptical than most about the nation's economic outlook.
Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your notaries public business.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. It's not unusual for a notaries public business sale negotiation to reach an impasse over price or other concessions. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Timing the Market
Now may be the best time to sell a notaries public business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on notaries public businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
How Much Does It Cost to Sell a notaries public business?
In a notaries public business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Share this article
Additional Resources for Entrepreneurs