Exit Planning Tips
Selling a Hunting and Fishing Preserves Business
Unfortunately, many sellers are waiting to list their hunting and fishing preserves businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, hunting and fishing preserves businesses are a great investment.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
The economy hasn't squashed the market for hunting and fishing preserves 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.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your hunting and fishing preserves business. The bad news is that they will lack the financial capacity to close the deal. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your hunting and fishing preserves business until the prospect has been qualified as a serious buyer.
Factoring In Economic Variables
When you sell a hunting and fishing preserves business, there are a number of variables you need to consider. Many would-be sellers are laser-focused on economic indicators, anxiously awaiting the perfect time to list their companies. The truth is that perfect market conditions may never materialize. A much better approach is to focus on the factors that always attract buyers and investors. One thing is for sure - buyers are paying more attention to your company's profitability and growth potential than they are to the latest quarterly economic indicators.
Working with Appraisers
Next to your broker, a skilled appraiser is the person most capable of adding value to the price of your hunting and fishing preserves business. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. 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.
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