The economy isn't the only thing that is uncertain these days. So are event coordinators business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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There is no simple way to sell a business. But the most prepared event coordinators business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
It's rarely possible to sell an event coordinators business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Should I Hire a Business Broker?
When selling an event coordinators business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your event coordinators business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Why Confidentiality Matters
In the business-for-sale universe, publicity translates into risk. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
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