Optimizing Business Exits
Selling a Recreational and Resort Properties Business
A lot can go wrong during the sale of a recreational and resort properties business in today's economy. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
There is no simple way to sell a business. But the most prepared recreational and resort properties business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Pre-Sale Checklist
The pre-sale checklist for a recreational and resort properties business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Closing Strategies
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young recreational and resort properties business owner, they can be critical launching points for their ownership journey.
Benefits of Third-Party Assistance
There are a range of professionals available to guide you through the sale of a recreational and resort properties business. 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. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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