An assortment of hurdles and obstacles stand between you and the successful sale of your sales training business.
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Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your sales training business.
Broker vs. No Broker
When selling a sales training business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your sales training business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered sales training business sale.
Timing the Market
Now may be the best time to sell a sales training business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on sales training businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the sales training business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
Given your interest in exit planning and in sales training businesses, you might find these additional resources to be of interest.
If you plan on opening a sales training business, these guides will help you get started:
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If you are looking for exit plan advice for a different kind of business, try our list of exit planning guides below.