Exit Planning Advice By Market
Selling an Advertising Personnel Recruiting Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the advertising personnel recruiting business industry has seen more than its share of fluctuations in business values. Sellers have adapted their strategies to accommodate changing market realities, incorporating a handful of proven techniques for selling an advertising personnel recruiting business during challenging economic times.
In any economy, there is a right way and a wrong way to sell a business.
The economy hasn't squashed the market for advertising personnel recruiting businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the advertising personnel recruiting business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Moving On
The decision to sell your advertising personnel recruiting business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
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