Smart Exit Planning Strategies for Niche Markets
Selling a Golf Driving and Practice Ranges Business
You've invested time, effort, and creativity into building your golf driving and practice ranges business. 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.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
If your exit strategy involves selling a golf driving and practice ranges business now, you need to apply the right combination of preparation, strategy and common sense.
When Is the Right Time to Sell?
When is it the right time to sell your golf driving and practice ranges business? If you're asking the question, now may be the time to put your business on the market. Some experts are telling golf driving and practice ranges business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the golf driving and practice ranges business marketplace. The inventory of what we consider to be quality golf driving and practice ranges businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Business Valuation
Professional appraisers can use three methods to determine the value ofa golf driving and practice ranges business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your golf driving and practice ranges business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
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