Sell a Business for the Best Price
Selling a Psychological Information and Referral Services Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the psychological information and referral services business market has been exceptionally volatile. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a psychological information and referral services business during challenging economic times.
In a down economy, many psychological information and referral services business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of psychological information and referral services businesses that are actually for sale.
There is no simple way to sell a business. But the most prepared psychological information and referral services business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Leveraging Industry Connections
Today's psychological information and referral services business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. Time and time again, successful psychological information and referral services business sales emerge from relationships within the industry. The challenge is to leverage industry connections while keeping knowledge of the sale hidden from your competitors. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Sale Preparation Timeframes
There are no effective shortcuts for selling a psychological information and referral services business. For starters, the financials need to demonstrate a track record of profitability and growth. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a psychological information and referral services business can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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