Optimizing Business Exits
Selling a Reminder Services Business
It's a misconception that no one is buying reminder services businesses these days. Savvy entrepreneurs see reminder services business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You won't find any magic formulas for selling a reminder services business, especially while the market is struggling to overcome the perceptions created by a down economy.
Despite the overall mood of the marketplace, reminder services businesses are still an attractive investment, especially when sellers have invested time and energy in preparing their companies for a sale.
Current Market Conditions
No one plans to sell a reminder services business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a reminder services business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
When the Sale Goes Off-Course
The reminder services business-for-sale marketplace is a mixed bag of brokered sales and solo efforts. Without brokerage, the risk of your sale going off-course is increased. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
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. In a reminder services business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.
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