How Do I Sell my Staffing Business?
If you have thought about selling your staffing business, you may have a lot of questions and concerns. Issues such as how much is my staffing company worth, who are the best buyers for my staffing company, and who knows how to sell my staffing company.
Contact a Business Broker with Experience
Synergy Business Brokers is equipped with over 15 years of experience and has the marketing capabilities to sell your business, and we do not charge upfront. We have built up a database of over 25,000 potential buyers and can find the right buyer for your staffing company. Our goal is to introduce as many good qualified candidates as possible so that you can get someone that not only gives you a great price but is also an excellent fit to take over your staffing business. In most cases, you will need to stay working with your staffing agency after the sale while it is in transition, so you want someone that you can work well with and that you feel comfortable taking over the relationships with your employees and customers.
A Business Valuation for your Staffing Business
We will meet with you and learn more about your business, such as what are your unique strengths and challenges are, and what are the growth opportunities for a new buyer. We will learn about your customers and employees and will review your last few years of financial information and give you a possible asking price for your business. We provide this consultation for free.
By taking into account whether your business is going up or down (or is stable) and what other similar staffing businesses sell for. We'll also analyze what your true owner's income is including your perks and benefits. We work with Staffing Companies that have an owner's net income of $200,000 to $5 Million. We have potential buyers for staffing companies in a wide variety of geographical locations and specialties, including:
- Temporary Services
- IT Services
- Professional Services
- Cleaning & Maintenance
We understand that staffing companies play a vital role in most industries. They allow firms to more quickly find the right talent. They can also allow companies to adjust more quickly to market ups and downs by hiring temporary employees. Many of these temps can turn into full-time positions so it allows both the company and the employee to try it out before they make a commitment.
Marketing Plan that Maintains Confidentiality
The first step in marketing a business is to develop an overview of the company that provides enough information to pique potential buyer's interest but not enough so that it breaches your confidentiality. Then we'll use the confidential business overview to market the business to other staffing companies, investment firms, wealthy entrepreneurs, and businesses in related industries that could potentially leverage your expertise and customers. Before providing the details about your company, we would have potential buyers sign a Non-Disclosure Agreement and provide us with information on their qualifications. We will weed out the tire kickers and only introduce the buyers that are the most qualified and interested. We usually have to speak with many potential buyers before we can get a solid offer for your company.
Negotiating offers for your Staffing Business
In most cases, we will get multiple offers, and this gives us the best opportunity for the highest price for your staffing business. We'll discuss the various pluses and minuses of the offers and get your feedback as to who you are leaning towards in terms of fit for taking over the business as well as your preference for structure and conditions of the offers (including your transition period).
Once you accept an offer, then you'll provide more information for due diligence. If you need an attorney, we can recommend attorneys that have experience in negotiating the sale of your staffing business. We sell staffing companies throughout the US and have Brokers in CT, NY, NJ, and MA that can speak with you for a confidential consultation.
Call us today at 888-750-5950, email us at [email protected], or fill out the form on this page.