So, you’ve decided to sell your education business? That’s a big move! Selling a business isn’t something most of us do every day, and it can be pretty daunting figuring out where to start.
Here’s a little roadmap to get you going:
List It Online: There are tons of sites where you can put up your business for sale. Just pop in some basic info, and you’re good to go! It’s quick, it’s easy, and it lets you reach a wide audience with just a few clicks.
Shout It Out on Social Media: Have a solid network on LinkedIn? Use it to your advantage! Dropping a hint about your sale might just catch the eye of your next business buyer. Plus, engaging your network could lead to valuable introductions and insider tips.
Hire a Pro: Getting an introducer or broker might be your best bet. These folks know the business-selling world and come with a toolbox full of skills, from pricing your company just right to navigating complex sale processes.
Now, getting the multiple right is super important. Go too low, and you might be leaving a ton of money on the table. Go too high, and you might scare off buyers. It’s a bit like Goldilocks—you want it “just right.”
Another big plus? Privacy. You probably don’t want the whole world to know your business is for sale. What if your competitors find out? Or worse, your employees? That could really shake things up and lower the value of your business. Keeping things under wraps until the right time can help protect your company and get you the best final price.
When choosing someone to sell your business, here’s what you need to check:
Reputation: Do they have a solid track record? Have they sold businesses like yours before?
Commitment: How long will you be tied to them, and what’s their fee structure? Some brokers charge upfront fees, whether they sell your business or not. Others, like JHEI Services, work on a no-win, no-fee basis, which means you only pay if they successfully sell your business.
Take some time to do your research, figure out what approach works best for your business, and understand the common valuations and multiples in your industry.
