How to Sell a Niche Market Business
Selling an Economic Development Agency
Many business leaders say that now isn't the time to try to sell an economic development agencies business. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your economic development agencies business on the market.
With planning and patience, most economic development agencies can be sold for a fair price in the current business-for-sale marketplace.
The economy hasn't squashed the market for economic development agencies. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Business Valuation
Professional appraisers can use three methods to determine the value ofan economic development agencies 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. Finally, the market method determines the worth of your economic development agencies business based on the sales of similar businesses in your geographic area. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. 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.
What to Expect in an Economic Development Agency Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your economic development agencies business. The emotions of a sale are complicated by the fact that it may take time to locate the right buyer and the final sale price may be less than you think your economic development agencies business is worth. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your economic development agencies business on the market.
Should I Hire a Business Broker?
Anyone who has ever sold an economic development agencies business has eventually needed to decide whether to use a business broker or go it alone. Although brokerage fees can be substantial, the right broker can reduce the amount of time your economic development agencies business sits on the market. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your economic development agencies business on BizBuySell.com and other popular online business-for-sale listing sites.
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