Sell a Business Tips
Selling a Skydiving Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the skydiving business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a skydiving business in the current economic environment.
You won't find any magic formulas for selling a skydiving business, especially while the market is struggling to overcome the perceptions created by a down economy.
Qualified buyers are constantly looking for attractive skydiving businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Timing the Market
Now may be the best time to sell a skydiving business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on skydiving businesses. Sooner or later, rates will rise, increasing the risk for prospective buyers of skydiving businesses. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your skydiving business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.
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