Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
(article continues below)
If you're ready to move on, now is the right time to sell your resume services business.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your resume services business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Working with Appraisers
An experienced appraiser is part and parcel of a successful resume services business sale. 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.
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized resume services business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Given your interest in exit planning and in resume services businesses, you might find these additional resources to be of interest.
If starting a resume services business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider resume services businesses to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are eager to get business succession tips for a different industry, try our list of exit planning guides below.