October 31, 2020  
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Selling a Business


Selling an Union and Labor Organization

We hear from a lot of business owners who are timid about listing their union and labor organization. Despite the mood of the market, we think there are still opportunities to receive a good price for your union and labor organization. Here's what you need to know . . .

The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for an union and labor organization.
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The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your union and labor organization, you could be waiting a while. If your business is ready to be sold, the time to sell is now. The key is to go into the sale with your eyes open and with complete awareness of market condition.

Finding Prospects

Whether you know it or not, prospective buyers for your union and labor organization are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for union and labor organizations than other buyers.

Seller Financing

Capital is hard to come by these days. Thanks to more stringent commercial lending requirements, sellers have become de facto lenders, providing the financing buyers need to get their feet in the door. As you prepare for the sale of your union and labor organization, expect to be asked to finance a substantial part of the sale price.

How to Choose a Business Broker

First-rate business brokers deliver prospects and profits to their clients. In the union and labor organization industry, experience is a must-have characteristic for qualified brokerage. As a practical matter, you'll also want to focus your search on brokers who have pre-existing relationships with attorneys, appraisers, and other professionals who can provide assistance at various stages of the process.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in union and labor organizations, you might find these additional resources to be of interest.

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