Tips to Improve Exit Planning
Selling a Jet Ski Dealership
No one said selling your business in a depressed economy would be easy. Fortunately, a jet ski dealership sale isn't as scary as it seems.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a jet ski dealership sale works.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a jet ski dealership.
Average Preparation Time
It's critical to properly plan for the sale ofa jet ski dealership. 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 jet ski dealership operation. At a minimum, plan on spending six months preparing your jet ski dealership for the marketplace. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your jet ski dealership. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. A limited amount of training and mentoring may seem inconsequential to you, but to a young jet ski dealership owner, they can be critical launching points for their ownership journey.
Sale Documents
In a jet ski dealership sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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