Advice on Niche Market Exit Planning
Selling a Tax Return Preparation Accountants Business
The sale of your tax return preparation accountants business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
The economy isn't the only thing that is uncertain these days. So are tax return preparation accountants business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a tax return preparation accountants business sale. You just need to know your buyers and structure the deal accordingly.
Leveraging Industry Connections
Today's tax return preparation accountants business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Seller Concessions
In the current marketplace, seller concessions can make the difference between a business sale and a tax return preparation accountants business that languishes on the market for months or even years. Not surprisingly, seller financing is routinely requested by today's buyers. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Timing Your tax return preparation accountants business Sale
When is it the right time to sell your tax return preparation accountants business? If you're asking the question, now may be the time to put your business on the market. There are a lot of naysayers out there advising tax return preparation accountants business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the tax return preparation accountants business marketplace. With so many sellers holding back, there isn't a lot of inventory out there and you may be able to get a great price for your practice depending on how well you prepare the business and your ability to execute your sale strategy.
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