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.
(article continues below)
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.
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.
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.
Given your interest in exit planning and in union and labor organizations, you might find these additional resources to be of interest.
If you plan on opening an union and labor organization, these guides will help you get started:
If you want information on how to sell to union and labor organizations, this isn't the best resource for you on our site. Try these useful resources instead:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.