Optimizing Business Exits
Selling a Retirement Planning Consultants and Services Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a retirement planning consultants and services business sale works.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a retirement planning consultants and services business.
Handling Unexpected Outcomes
When you made the decision to sell your retirement planning consultants and services 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 retirement planning consultants and services business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
When Is the Right Time to Sell?
When is it the right time to sell your retirement planning consultants and services business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising retirement planning consultants and services business sellers (or would-be sellers) to take a wait and see approach. But despite the negativity that exists in some sectors, if you have a desire to sell your retirement planning consultants and services business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality retirement planning consultants and services businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Dealing with Tire Kickers
Many prospective buyers will have a strong desire to acquire your retirement planning consultants and services business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your retirement planning consultants and services business until the prospect has been qualified as a serious buyer.
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