Exit Planning Tips
Selling a Horse Trainers Business
When it's time to sell your horse trainers business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. There are lots of buyers who want to own a horse trainers business, but have limited capital to get their foot in the door.
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your horse trainers business can be sold at or above fair market value right now.
How to Work with Business Brokers
Business brokers are professional business sellers. Brokers routinely work with horse trainers business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your horse trainers business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Average Preparation Time
There are no effective shortcuts for selling a horse trainers business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a horse trainers business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
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