Sell a Business Tips
Selling a Sports and Recreation Facilities Business
Most businesses are susceptible to economic conditions and sports and recreation facilities businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
In a down economy, many sports and recreation facilities business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of sports and recreation facilities businesses that are actually for sale.
If you're ready to move on, now is the right time to sell your sports and recreation facilities business.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. First-rate brokers are extremely skilled at communicating your company's strengths to prospective buyers. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
Preparing for What's Next
The decision to sell your sports and recreation facilities business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Negotiation 101
It's critical to negotiate from a position of strength. In a sports and recreation facilities business sale, knowledge is power -- the more you know about your business and prospective buyers, the easier it is to sway negotiations in your favor. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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