Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your voice response systems and services business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. 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 voice response systems and services businesses than other buyers.
Hiring an Attorney
There is no way around the requirement to hire professional legal assistance when you sell your voice response systems and services business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your voice response systems and services business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your voice response systems and services business until the prospect has been qualified as a serious buyer.
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