How to Sell a Niche Market Business
Selling an Employment Business
Many business leaders say that now isn't the time to try to sell an employment business. At Gaebler, we think it's a great time to sell an employment business. Here's why . . ..
Dire economic forecasts have forced many employment business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Many business owners don't know that employment businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
When to End Negotiations
If the devil is in the details, the negotiation stage of an employment business sale is the devil's playground. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In an employment business sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokerage is particularly common in the employment business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. To maximize your broker's potential, conduct periodic consultations throughout the process and deliver requested information as quickly as possible.
There is a lot of work that needs to be done before you're ready to sell your employment business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs