Sell a Business Tips
Selling a Sports and Entertainment Tickets Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the sports and entertainment tickets 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 sports and entertainment tickets business whem market conditions threaten a successful business sale.
Business buyers face their own set of frustrations and complications. There are lots of buyers who want to own a sports and entertainment tickets business, but have limited capital to get their foot in the door.
You'll always have an excuse for not putting your business on the market. Selling a sports and entertainment tickets business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Average Preparation Time
There are no effective shortcuts for selling a sports and entertainment tickets business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your sports and entertainment tickets business for the marketplace. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood sports and entertainment tickets business sellers with questions and requests, often to the point of becoming a nuisance. The questions sports and entertainment tickets business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your sports and entertainment tickets business. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a sports and entertainment tickets business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
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