Exit Planning Tips
Selling a Horse Transportation Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet horse transportation businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
You need to get a good price for your horse transportation business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Growth-minded entrepreneurs also find an appealing horse transportation business hard to pass up. To sell your horse transportation business, you'll need to go the extra mile to prove your company has the potential to deliver steady revenue and a solid ROI.
Timing the Market
Timing is everything when it comes to selling a horse transportation business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on horse transportation businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based horse transportation business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the horse transportation business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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