Smart Exit Planning Strategies for Niche Markets
Selling a Gymnasium and Track Flooring Business
You've invested time, effort, and creativity into building your gymnasium and track flooring 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.
Dire economic forecasts have forced many gymnasium and track flooring business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
The economy hasn't squashed the market for gymnasium and track flooring businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your gymnasium and track flooring business. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your gymnasium and track flooring business. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. If you aren't familiar with typical gymnasium and track flooring business concessions, consult with a professional to learn how you can build incentives into your deal.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for gymnasium and track flooring businesses than other buyers.
Share this article
Additional Resources for Entrepreneurs