Niche Market Exit Planning Tips
Selling a Baseball Diamond Construction Business
Most businesses are susceptible to economic conditions and baseball diamonds construction businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
According to the experts, there is currently a large volume of shadow inventory in the baseball diamonds construction business market -- businesses that are waiting to be listed until the economy recovers.
Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a baseball diamonds construction business, you can - even in today's economy. We'll tell you what you need to know to achieve a successful sale outcome
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Dealing with Buyers
Buyers can present challenges, especially during the due diligence stage. It's completely normal for baseball diamonds construction business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Laying the Groundwork
Effective baseball diamonds construction business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a baseball diamonds construction business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your baseball diamonds construction business on the market.
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