How to Sell a Niche Market Business
Selling an Employee Benefit Plans Consulting Services Business
You've learned a lot during your tenure as an employee benefit plans consulting services business owner. Before you walk away, you have one more challenge to overcome: A successful and profitable business sale.
In a down economy, many employee benefit plans consulting services business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of employee benefit plans consulting services businesses that are actually for sale.
Undaunted by economic conditions, many employee benefit plans consulting services business sellers are achieving their sale goals through deliberate sale strategies.
Promoting an employee benefit plans consulting services business Sale
Successful employee benefit plans consulting services business sales listings are intentionally promoted to the right prospects. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. The best way to advertise an employee benefit plans consulting services business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Most employee benefit plans consulting services business have significant tax consequences requiring the input of a qualified accountant. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
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