Business Exit Planning
Selling a Martial Arts Equipment and Supplies Business
The sale of a martial arts equipment and supplies business can be a difficult and trying process. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Many martial arts equipment and supplies business sellers cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized martial arts equipment and supplies business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Preparing Family Members
Many sellers embarked on their martial arts equipment and supplies business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the martial arts equipment and supplies business. The sale of the business will likely result in new family dynamics. Subsequently, selling a martial arts equipment and supplies business has to include ample communication and shared decision-making.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a martial arts equipment and supplies business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. In most cases, your sale strategy will call for the assistance of outside professionals at various stages throughout the process. Early recruitment makes it easier to execute your strategy without unnecessary interruptions.
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