Sell a Business Tips
Selling a Shooting and Target Ranges Business
A lot can go wrong during the sale of a shooting and target ranges business these days. 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-for-sale markets are less dependent on economic conditions than most sellers think they are.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to shooting and target ranges businesses that exhibit strong financials and potential for future growth.
Tips for Seller Financing
The shortage in today's marketplace isn't interested buyers -- it's capital. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized shooting and target ranges 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.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your shooting and target ranges business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Laying the Groundwork
Effective shooting and target ranges business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a shooting and target ranges business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium shooting and target ranges business opportunity.
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