How to Sell a Preschool for the Best Price
While owning and operating a preschool can be a rewarding career, there may come a time when it is no longer feasible for you to do so. Whether nearing retirement, relocating or moving on to other business ventures, there are steps you can take to ensure that your preschool will sell for the best price, while also streamlining the selling process, and weeding out low-ball offers.
What Is Included in the Sale?
Besides the fact that you’re selling a reputable early childhood education center, you’re also putting tangible items up for sale. Take stock of everything you want to be included in the sale; are you selling your business as is, up and running and stocked equipped with clientele? Or are you closing down and liquidating assets? To come up with a proper evaluation to present to potential buyers, you must factor in things like the facility, the property itself, classroom furnishings, staff, etc. A valuation strategy can help you take inventory, determine objectives and execute a successful sale.
Industry Trends Affect Price Points
More than ever, parents are placing a premium on their children’s education. Early childhood education can set the pace for the rest of student’s school years, so parents are increasingly looking for the highest quality institutions. And with charter and Montessori schools on the rise, parents find themselves with more and more choices. The importance of early childhood education is so emphasized that even the federal government has suggested expanding early childhood education by making preschool available for all kids.
All of this bodes well for you, if you are in the market to sell a preschool. Chances are, you’ve run a successful and lucrative preschool thus far, with good attendance records and high preforming evaluations. This sort of solid community reputation will be a large factor in determining your valuation, as industry leaders draw a premium price.
Assessing Potential Buyers
With such a niche market like the early childhood development industry, your potential buyer pool could be small. It takes a unique individual to take on the responsibility of running a preschool. It might be necessary to enlist the help of a business broker, consultant or appraiser. An industry expert such as these will have a good grasp on your target market, help you establish a fair price and will assist you in attracting potential buyers.
Certified business appraisers and brokers have numerous data bases, extensive records and precise formulas that help determine the value, and have the experience and expertise necessary to close the sale. Many Sunbelt Business Brokers are certified appraisers themselves, or have established relationships with other business valuations firms, ensuring they’ll find you the best price possible.
Sunbelt of Raleigh, with more than 30 years of experience, provides business brokerage services for all of your buying and selling needs. Whether you are an established business owner nearing retirement and looking to sell, or an ambitious entrepreneur seeking your next investment opportunity, there is no reason to look beyond Sunbelt Business Brokers of Raleigh.