Selling a english as a second language school? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a english as a second language school isn't easy, but we believe sellers can achieve their goals in any economic environment.
Objectivity is a rare commodity in a business sale. You have invested yourself in making your english as a second language school the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful english as a second language school sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
When the Sale Goes Off-Course
Many english as a second language school are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. If that occurs, it's time to bring in the professionals to get your sale back on track.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your english as a second language school. The bad news is that they will lack the financial capacity to close the deal. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. If you aren't sure what to look for in a serious buyer, ask your broker for advice. It's likely that non-serious buyers will want to know everything about your english as a second language school during their initial inquires. Avoid releasing details about your english as a second language school until you have established that they have the financial capacity to make a legitimate offer.
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