Niche Market Exit Planning Tips
Selling a Bicycle Trails Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a bicycle trails business sale. At Gaebler, we think it's a great time to sell a bicycle trails business. Here's why . . ..
Personal and professional concerns surround the sale of a bicycle trails business. In our experience, a common owner concern is how the sale will affect customers and employees.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to bicycle trails businesses that exhibit strong financials and potential for future growth.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your bicycle trails business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Selling Time
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their bicycle trails business. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your bicycle trails business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Negotiation 101
There's no room for error when you negotiate the sale ofa bicycle trails business. More often than not, the person with the most knowledge will come out on top in a bicycle trails business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your bicycle trails business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. A negotiating strategy is essential because it not only establishes parameters, but also creates a plan for overcoming buyer objections and impasses.
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