Selling a indexing and abstracting services business? 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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Too often indexing and abstracting services business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Laying the Groundwork
A successful indexing and abstracting services business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your indexing and abstracting services business on the market.
The Best Person to Sell Your Indexing & Abstracting Services Business
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. The problem is that your passion for your business can also sabotage your sale. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the indexing and abstracting services business to gain an objective sense of fair market value.
Seller concessions are becoming more commonplace in business-for-sale transactions. Not surprisingly, seller financing is routinely requested by today's buyers. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
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