October 29, 2020  
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Selling a Business


Selling an Audiotext Services Business

We hear it all the time: "This economy is a hostile environment for a business sale." However, audiotext services businesses haven't heard the news and are reporting steady action on the business-for-sale market.

Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an audiotext services business sale works.
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Growth-minded entrepreneurs also find an appealing audiotext services business hard to pass up. Financial statements and ROI are essential in converting modern audiotext services business prospects into buyers.

Finding Prospects

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 audiotext services businesses than other buyers.

When the Sale Goes Off-Course

It's not uncommon for the owners of small audiotext services businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their audiotext services businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. 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. When buyers fail to exhibit substantive interest, it could indicate unrealistic pricing or an inferior selling strategy. The remedy is professional brokerage or a consultation with more experienced sellers.

Business Valuation

Professional appraisers can use three methods to determine the value ofan audiotext services business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.

More Exit Planning Articles

Given your interest in exit planning and in audiotext services businesses, you might find these additional resources to be of interest.

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