Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your senior citizens' center can attract buyers who recognize its potential.
(article continues below)
At Gaebler, we're seeing senior citizens' center sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Whether you know it or not, prospective buyers for your senior citizens' center are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Sweetening the Deal
Today's senior citizens' center buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young senior citizens' center owner, they can be critical launching points for their ownership journey.
The Best Person to Sell Your Senior Citizens' Center
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your senior citizens' center in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the senior citizens' center to gain an objective sense of fair market value.
Ready to learn more? You may find these additional resources to be of interest.
If you plan on opening a senior citizens' center, these helpul resources may be just what you've been looking for:
If you want information on how to sell to senior citizens' centers, there's more applicable information for you elsewhere on our site. Try these useful resources instead:
If you are eager to get business succession tips for a different industry, please browse our directory of exit planning guides below.