Exit Planning Strategies

Selling a Vocational and Educational Test Publishers Business

Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet vocational and educational test publishers businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.

Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.

Nothing lasts forever and you will ultimately be faced with the task of selling your company. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your vocational and educational test publishers business.

Preparing for What's Next

So you've decided to sell your vocational and educational test publishers business. That's great -- but have you considered what's next? Are you moving on to another business venture? Are you retiring? many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your vocational and educational test publishers business attractive to buyers.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.

Post-Sale Details

As your vocational and educational test publishers businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.

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