Exit Planning Advice
Selling a Kites and Gliders Business
The sale of your kites and gliders business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Capital is scarce and many buyers simply can't afford the entry requirements for a kites and gliders business.
Kites are magical, and we are all kite enthusiasts at heart. That's why opening a kite store can be a great experience.
In today's market, there is still plenty of room for kites and gliders businesses that demonstrate solid earning capacity and a robust market position.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your kites and gliders business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Turning the Tables: Buyer Concessions
Most kites and gliders business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Adjusting Expectations
Every business seller dreams of a fast sale and a fat payday. 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. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Share this article
Additional Resources for Entrepreneurs