December 3, 2020  
 
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Selling a Proofreading Business

You've heard the naysayers - now isn't the time to sell a proofreading business. But what they don't know is that many entrepreneurs see proofreading businesses as a smart business investment.

You need to get a good price for your proofreading business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a proofreading business. With the right information and strategy, you could be well on your way to a successful sale

Why Confidentiality Matters

Highly publicized proofreading business sales are risky proofreading businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.

When Is the Right Time to Sell?

If you're feeling like your tenure as the owner of the proofreading business is coming to an end, the time to sell is now. There are a lot of naysayers out there advising proofreading business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the proofreading business marketplace. The inventory of what we consider to be quality proofreading businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.

Handling Unexpected Outcomes

When you made the decision to sell your proofreading business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your proofreading business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

What Does a Business Broker Charge?

Marketing a Proofreading Business

Why Most Businesses Do Not Have Exit Plans


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