Selling a Business Advice
Selling an Information Systems Consultants Business
We hear from a lot of business owners who are timid about listing their information systems consultants business. Despite the mood of the market, we think there are still opportunities to receive a good price for your information systems consultants business. Here's what you need to know . . .
The process of selling an information systems consultants business can be one of the most stressful experiences of your entrepreneurial career.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a information systems consultants business sale. You just need to know your buyers and structure the deal accordingly.
There is a lot of work that needs to be done before you're ready to sell your information systems consultants 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.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based information systems consultants business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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