Exit Planning Tips
Selling a Hotel and Motel Employment Agencies Business
Looking for shortcuts? You won't find them when you sell a hotel and motel employment agencies business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Personal and professional concerns surround the sale of a hotel and motel employment agencies business. But have you considered how your customers, vendors and employees will handle the sale?
If you're ready to move on, now is the right time to sell your hotel and motel employment agencies business.
Average Timeframes
Hoping for a quick hotel and motel employment agencies business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. To adequately prepare your business listing, plan on spending six months to a year prior to listing. In a good market, an attractive hotel and motel employment agencies business can sell in as little as a few months, although it can take more than a year to find the right buyer after the business is listed.
Working with Appraisers
An experienced appraiser is part and parcel of a successful hotel and motel employment agencies business sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Valuation Methods
Professional appraisers can use three methods to determine the value ofa hotel and motel employment agencies business: The income method, the asset method and the market method. The income method determines value based on the amount of income the business is expected to generate. The asset method, on the other hand, is based on the value of tangible and non-tangible assets (e.g. brands and trademarks). Finally, the market method determines the worth of your hotel and motel employment agencies business based on the sales of similar businesses in your geographic area. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Share this article
Additional Resources for Entrepreneurs