Exit Planning Techniques By Market
Selling a Fitness Consultants Business
You've learned a lot during your tenure as a fitness consultants business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Are most buyers timid about buying a fitness consultants business in today's economic environment? You bet.
Although it takes hard work and dedication, if it's time to exit your fitness consultants business there is a good chance you can sell it for a good price -- even in today's market.
Closing Strategies
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your fitness consultants business. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in fitness consultants business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Current Market Conditions
No one plans to sell a fitness consultants business in a down economy. So far, government intervention and promises that the economy is slowly recovering haven't been enough to alleviate many entrepreneur's fears. But when the economy fully rebounds, a shadow inventory of fitness consultants businesses will flood the market and drive prices down even further. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your fitness consultants business as attractive as possible so to buyers right now.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your fitness consultants business. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a fitness consultants business sale. 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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