Sell a Business Tips
Selling a Shuffleboards and Accessories Business
You've learned a lot during your tenure as a shuffleboards and accessories business owner. The next step is to position your business for the demands of the business-for-sale marketplace.
Selling a shuffleboards and accessories business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to shuffleboards and accessories businesses that exhibit strong financials and potential for future growth.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions shuffleboards and accessories business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
When the Sale Goes Off-Course
Many shuffleboards and accessories business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. Generally, listed businesses should generate interest within a few months. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Setting the Stage
A successful shuffleboards and accessories business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a shuffleboards and accessories 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 shuffleboards and accessories business opportunity.
Share this article
Additional Resources for Entrepreneurs