Niche Market Exit Planning Tips
Selling a Beer Garden
Don't believe anyone who tells you it's easy to sell a beer garden. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
With planning and patience, most beer gardens can be sold for a fair price in the current business-for-sale marketplace.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your beer garden sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
The Best Person to Sell Your Beer Garden
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your beer garden in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the beer garden to gain an objective sense of fair market value.
Understanding Market Timing
Now may be the best time to sell a beer garden. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on beer gardens. When the economy recovers there will be more beer garden buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your beer garden's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your beer garden.
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