Optimizing Business Exits
Selling a Resorts Reservations Business
Looking for shortcuts? You won't find them when you sell a resorts reservations business. In this industry, a business sale takes time, effort and dedication. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
If your exit strategy involves selling a resorts reservations business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Brokerage Benefits
There are many reasons why hiring a broker makes sense in resorts reservations business sales. First, business brokers are in tune with the realities of the market and are skilled at helping owners make their businesses attractive to premium buyers. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Brokerage isn't cheap. But even though you can spend as much as 10% of the sale price on a good broker, you'll likely achieve decent ROI through an improved final sale price.
Laying the Groundwork
Effective resorts reservations business preparation focuses on communicating value to prospective buyers. In our experience, it pays to solicit the advice of a professional business broker as soon as possible. A good broker will guide you through the preparation stage and make sure you've covered all the bases. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium resorts reservations business opportunity.
Selling a Resorts Reservations Business to an Employee
Although it may seem easier to sell your resorts reservations business to an employee, this approach also has some pitfalls. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based resorts reservations business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
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