Niche Exit Planning Strategies
Selling a Dog Training Business
You've heard the naysayers - now isn't the time to sell a dog training business. But what they don't know is that many entrepreneurs see dog training businesses as a smart business investment.
In a down economy, many dog training 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 dog training 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 dog training business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Selling a Dog Training Business to an Employee
Although it may seem easier to sell your dog training business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. Since the worker already knows the ins and outs of the business, due diligence should be a breeze, not to mention the fact that you won't have to wait months or years for the right buyer to emerge on the open marketplace. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based dog training business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
When Is the Right Time to Sell?
When is it the right time to sell your dog training business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling dog training business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the dog training business marketplace. The inventory of what we consider to be quality dog training businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokers routinely work with dog training business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your dog training business. Establish clear lines of communication with your broker and respond quickly to requests from prospective buyers. You should also assist your broker in listing your dog training business on BizBuySell.com and other online business-for-sale sites.
Share this article
Additional Resources for Entrepreneurs