Smart Exit Planning Strategies for Niche Markets
Selling a Gymnastics Equipment and Supplies Business
No one said selling your business in a depressed economy would be easy. Fortunately, a gymnastics equipment and supplies business sale isn't as scary as it seems.
You won't find any magic formulas for selling a gymnastics equipment and supplies business, especially while the market is struggling to overcome the perceptions created by a down economy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to gymnastics equipment and supplies businesses that exhibit strong financials and potential for future growth.
Advantages of Hiring a Broker
Brokers give gymnastics equipment and supplies business sellers distinct advantages in the marketplace. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Closing Strategies
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your gymnastics equipment and supplies 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. A limited amount of training and mentoring may seem inconsequential to you, but to a young gymnastics equipment and supplies business owner, they can be critical launching points for their ownership journey.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a gymnastics equipment and supplies business scan stir up a range of emotions. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Share this article
Additional Resources for Entrepreneurs