Niche Market Exit Planning Tips
Selling a Boarding Stables Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a boarding stables business sale. But in reality, now may be the perfect time to sell a boarding stables business.
The economy isn't the only thing that is uncertain these days. So are boarding stables business buyers, many of whom are waiting to pull the trigger on their next acquisition.
If your exit strategy involves selling a boarding stables business in this environment, business sellers may need to apply a combination of incentives and techniques.
Broker vs. No Broker
Anyone who has ever sold a boarding stables business has eventually needed to decide whether to use a business broker or go it alone. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your boarding stables business much less painful. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your boarding stables business on BizBuySell.com and other popular online business-for-sale listing sites.
What About Market Conditions?
At first glance, today's market would seem to be a hostile place for boarding stables business sellers. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. The simple truth is that the economy shouldn't dictate whether or not now is the right time to sell a boarding stables business. Your individual circumstances and personal goals are more influential factors in determining when it's time to put your business on the market.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. On the one hand, confidentiality is critical for a successful boarding stables business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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