Exit Planning Tips
Selling a Hunting and Fishing Lodges Business
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
If your exit strategy involves selling a hunting and fishing lodges business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Average Preparation Time
It's critical to properly plan for the sale ofa hunting and fishing lodges business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey hunting and fishing lodges business operation. Since all of this takes time and effort, a hunting and fishing lodges business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
Are You the Right Person to Sell Your Business?
There are benefits and drawbacks to handling the sale of your hunting and fishing lodges business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your hunting and fishing lodges business in the business-for-sale marketplace. But your knowledge and personal insights about the hunting and fishing lodges business are also the problem. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the hunting and fishing lodges business to gain an objective sense of fair market value.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. The most common seller concession is seller financing. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Share this article
Additional Resources for Entrepreneurs