Sell a Business Tips
Selling a Social Service Associations Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet social service associations businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Qualified buyers are constantly looking for attractive social service associations businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Closing Strategies
Today's social service associations business 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 social service associations business owner, they can be critical launching points for their ownership journey.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. 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 social service associations business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your social service associations business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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