Business Exits By Industry
Selling a Circuses Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet circuses businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Selling a circuses business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
However, serious buyers also understand the value of a good circuses business. Financial statements and ROI are essential in converting modern circuses business prospects into buyers.
Factoring In Economic Variables
When you sell a circuses business, there are a number of variables you need to consider. A combination of economic conditions and market sentiment can complicate your sale. But at Gaebler, we advise our business partners to look beyond simple economic data when determining whether it's the right time to sell a circuses business. If you don't believe your circuses business would sell for top dollar right now, what can you do to make it more attractive to the marketplace? Increase profitability? Build brand visibility?. When it comes to selling a circuses business, successful sales sales often boil down to the business itself - not the economy.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. In a down economy sellers become bankers; an unwillingness to finance at least part of the sale of a circuses business can translate into a dead deal. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Sale Documents
We run into a lot of circuses business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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