Business Exit Planning
Selling a Model Airplanes Business
We hear from a lot of business owners who are timid about listing their model airplanes business. Despite the mood of the market, we think there are still opportunities to receive a good price for your model airplanes business. Here's what you need to know . . .
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact model airplanes business sales nearly as much as sale strategy.
However, serious buyers also understand the value of a good model airplanes business. So for model airplanes business sellers, today's market is all about convincing buyers that the numbers make their companies worth the asking price.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based model airplanes business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the model airplanes business-for-sale market, where aggressive selling strategies are the norm. But a good broker doesn't relieve your responsibility for contributing to the sale process. Like it or not, you are going to be an integral player in the sale of your model airplanes business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your model airplanes business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. 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.
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