Sell a Business Tips
Selling a Sports Promoters and Managers Business
You've heard the naysayers - now isn't the time to sell a sports promoters and managers business. But what they don't know is that many entrepreneurs see sports promoters and managers businesses as a smart business investment.
Today's sports promoters and managers business buyers tend to be more skeptical than most about the nation's economic outlook.
Undaunted by economic conditions, many sports promoters and managers business sellers are achieving their sale goals through deliberate sale strategies.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your sports promoters and managers business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood sports promoters and managers business sellers with questions and requests, often to the point of becoming a nuisance. The questions sports promoters and managers 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.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the sports promoters and managers business to gain an objective sense of fair market value.
Share this article
Additional Resources for Entrepreneurs