Niche Exit Planning Strategies
Selling a Dude Ranches Business
Many business leaders say that now isn't the time to try to sell a dude ranches business. At Gaebler, we think it's a great time to sell a dude ranches business. Here's why . . ..
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Most dude ranches businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Sale Documents
We run into a lot of dude ranches 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 . By the time the deal reaches the final contract, many of its features are set in stone. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
Before You Sell
The pre-sale checklist for a dude ranches business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Selling a Dude Ranches Business to an Employee
Employee sales have pros and cons. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. 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 dude ranches business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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