Sell a Business Tips
Selling a Sign Language and Lip Reading School
Business-for-sale markets are susceptible to a variety of influences. As you know, the sign language and lip reading school industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a sign language and lip reading school during challenging economic times.
It's a fact: Successful business sales take time.
Despite the conventional wisdom, we believe current economic conditions are right for selling a sign language and lip reading school. We'll tell you what you need to know to achieve a successful sale outcome
Timing the Market
Timing is everything when it comes to selling a sign language and lip reading school. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on sign language and lip reading schools. Sooner or later, rates will rise, increasing the risk for prospective buyers of sign language and lip reading schools. 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.
Dealing with Buyers
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood sign language and lip reading school sellers with questions and requests, often to the point of becoming a nuisance. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. You may also want your accountant to assist in the preparation of professional financials to present to serious buyers. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs