Exit Planning Tips
Selling a Hotel Representatives Business
You've heard the naysayers - now isn't the time to sell a hotel representatives business. But what they don't know is that many entrepreneurs see hotel representatives businesses as a smart business investment.
Business buyers face their own set of frustrations and complications. There are lots of buyers who want to own a hotel representatives business, but have limited capital to get their foot in the door.
The economy hasn't squashed the market for hotel representatives 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.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your hotel representatives business's physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Preparing Your Hotel Representatives Business for Sale
Like it or not, a good business sale takes time. Attractive hotel representatives business listings are the culmination of a preparation process that began months or even years ahead of time. Even though it may take years to adequately position your hotel representatives business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. Most hotel representatives business have significant tax consequences requiring the input of a qualified accountant. A professional audit can ease buyer concerns and amp up the value of your financial presentation. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
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