Sell a Business Tips
Selling a Sailboat Charter and Rental Business
You've learned a lot during your tenure as a sailboat charter and rental business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
In a down economy, many sailboat charter and rental business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of sailboat charter and rental businesses that are actually for sale.
Undaunted by economic conditions, many sailboat charter and rental business sellers are achieving their sale goals through deliberate sale strategies.
Preparing Your Sailboat Charter & Rental Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive sailboat charter and rental business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Everything you do to increase market share and profitability has a payoff in the final sale price of your sailboat charter and rental business. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great sailboat charter and rental business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your sailboat charter and rental business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Sale Documents
In a sailboat charter and rental business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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