Advice on Niche Market Exit Planning
Selling a Thesis Services Business
Although a thesis services business may not be completely recession-proof, the best companies can survive nearly any storm. All it takes is a strategy to identify solid prospects and convert them to buyers.
Market timing is a perennial problem for business sellers.
There are many factors involved with the decision to sell a business. That's why we think it's important for thesis services business owners to know that it's possible to sell a business in any economy. The key is to go into the sale with your eyes open and with complete awareness of market condition.
Maximizing Sales Price
A successful thesis services business requires an investment of both time and money. Fortunately, a business broker can minimize the impact on your bank account and personal well-being. Seller fatigue is a real concern - if your business sits on the market too long, you will be tempted to sell below your expectations. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their thesis services businesses.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. 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. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for thesis services businesses than other buyers.
Selling a Thesis Services Business to an Employee
There are both benefits and drawbacks to selling a thesis services business to an employee. A key employee may seem like a natural sales prospect. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. But in many cases, employees expect to get a deal from their employer based on their years of service to the company. Seller financing is one way to get around the capital deficit of an employee-based thesis services business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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