How do I sell a telephone answering service?
Prepare in four steps: write down every client’s script and escalation steps, take yourself off the coverage roster, move clients onto written agreements, and plan how the phone platform and client numbers will transfer. A buyer pays attention to how little of the service depends on you.
Buyers of answering services are buying a promise that calls will be picked up. If that promise lives in your head, or depends on you answering the phone at three in the morning, a buyer will see it quickly. Start early. Most of the preparation below takes months of ordinary work rather than any single big task, and it makes the business easier to hand over.
Write down the scripts and escalations
For each client, record the greeting, the questions operators ask, who gets called for an urgent message and what counts as urgent. Keep them in one place that a new owner can open. Operators should follow the written version, not memory. Gather these in a data room for serious buyers.
Get yourself off the roster
If you cover gaps yourself, train someone else to do it. Show who handles sick days, who supervises the quiet shifts and who answers operator questions. A roster that runs without you is more reassuring than any promise. The same idea appears in keeping staff through a sale.
Put clients on written agreements
Where a client works on a handshake, offer a simple written agreement covering services, rates, notice and what happens if the business changes hands. Have a lawyer draft or review it. Do this well before you list, so clients are not asked to sign something new in the middle of a sale.
Plan the platform transfer
Check which platform contracts can move to a buyer and which need the provider’s consent. Decide how client phone numbers will be kept live through the changeover, and tell clients what to expect. Keep clients informed at the right time, as described in keeping the business performing during a sale.
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Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to minimize negotiations when selling your business
- 02Business Development Bank of CanadaGovernmentAdvice for succession planning - Articles and tools
- 03Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 04Business Development Bank of CanadaGovernmentHow to reduce employee turnover
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