If you plan on selling your traffic school quickly, prepare to be disappointed.
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If your exit strategy involves selling a traffic school now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Signs You're in Over Your Head
Many traffic school are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other traffic schools sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
Sweetening the Deal
Today's traffic school 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 traffic school owner, they can be critical launching points for their ownership journey.
Advertising Your Sale
Successful traffic school sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. There are multiple ways to promote a traffic school sale, many of which require the assistance of a professional business broker.
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