Exit Planning Tips
Selling a Hotels and Motels Developers Business
You've learned a lot during your tenure as a hotels and motels developers business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
If you plan on selling your hotels and motels developers business quickly, prepare to be disappointed.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a hotels and motels developers business.
Finding Hotels & Motels Developers Business Buyers
Buyers of hotels and motels developers businesses run the gamut. Some are seasoned hotels and motels developers business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
Working with Appraisers
An experienced appraiser is part and parcel of a successful hotels and motels developers business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. Even though you may disagree with the appraiser's value estimates, it's important to give your appraiser the information and independence he needs to present an objective opinion. To ensure accuracy, ask your broker to provide references for appraisers with industry experience.
Preparing Your Hotels & Motels Developers Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable hotels and motels developers business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Even though it may take years to adequately position your hotels and motels developers business, the amount of preparation you perform will have direct correlation on asking and sale prices. It is especially helpful if your financial reports can demonstrate a multiyear growth trend for potential buyers.
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