Sell a Business Tips
Selling a Softball Club
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet softball clubs continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a softball club, capital restrictions are holding them back.
It may require a little finesse, but if you're prepared to take the next step in your entrepreneurial career then it's time to brave the softball club market and locate potential buyers ASAP.
Sweetening the Deal
Today's softball club buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in softball club sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the softball club to gain an objective sense of fair market value.
Laying the Groundwork
Effective softball club preparation focuses on communicating value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium softball club opportunity.
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