Niche Market Exit Planning Tips
Selling a Boating and Marine Books Business
Your boating and marine books business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Dire economic forecasts have forced many boating and marine books business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
But they're also savvy enough to know a good deal when they see it. So for boating and marine books business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Promoting a boating and marine books business Sale
Successful boating and marine books business sales listings are intentionally promoted to the right prospects. But confidentiality issues are a hurdle you'll need to address before you put your boating and marine books business on the market. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. The best way to advertise a boating and marine books business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
Buyer Identification
It's difficult to predict where the buyer of your boating and marine books business will come from. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
How Much Does It Cost to Sell a boating and marine books business?
In a boating and marine books business sale, pricing is based on a number of factors, including the costs incurred during the sale. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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