Exit Planning Tips
Selling a Hunting and Fishing Information Services Business
You've heard the naysayers - now isn't the time to sell a hunting and fishing information services business. But what they don't know is that many entrepreneurs see hunting and fishing information services businesses as a smart business investment.
Although we're optimistic about the economy, we also recognize that it takes the right strategy to sell a hunting and fishing information services business in today's market.
Too often hunting and fishing information services business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
Finding Hunting & Fishing Information Services Business Buyers
It's difficult to predict where the buyer of your hunting and fishing information services business will come from. 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. networking may also prove to be a valuable resource for identifying prospective buyers, but only to the extent that it can be done discreetly.
Handling Unexpected Outcomes
When you made the decision to sell your hunting and fishing information services business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your hunting and fishing information services business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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