Sell a Business for the Best Price
Selling a Parks and Playgrounds Business
A good business is about more than dollars and sense. To make your parks and playgrounds business what it is today, you've had to fully invest yourself in its success. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
But the good news is that there is still demand for parks and playgrounds businesses that present well and offer solid earning potential.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Average Timeframes
Hoping for a quick parks and playgrounds business sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your parks and playgrounds business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized parks and playgrounds 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.
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