Sell a Business Tips
Selling a Social Companion Services Business
It's a misconception that no one is buying social companion services businesses these days. Savvy entrepreneurs see social companion services business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
You won't find any magic formulas for selling a social companion services business, especially while the market is struggling to overcome the perceptions created by a down economy.
If you're ready to move on, now is the right time to sell your social companion services business.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your social companion 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.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. But it's highly unlikely that the sale will meet all of your expectations, especially if your initial estimates were created without the benefit of a solid appraisal or market knowledge. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your social companion 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.
Turning the Tables: Buyer Concessions
Most social companion services business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Share this article
Additional Resources for Entrepreneurs