Niche Market Exit Planning Tips
Selling a Billiard Instruction Business
You've learned a lot during your tenure as a billiard instruction business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
In a down economy, many billiard instruction business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of billiard instruction businesses that are actually for sale.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a billiard instruction business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your billiard instruction business now, but that doesn't make the emotions you will experience any easier. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your billiard instruction business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Family Business Sale Tips
There is no easy way to sell a billiard instruction business, not even to a family member. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Share this article
Additional Resources for Entrepreneurs