Advice on Niche Market Exit Planning
Selling a Tennis Clubs
Maybe you're counting on your tennis club to be a stepping stone to your next big business venture. Maybe it's your retirement fund. Either way, you need to maximize the price it gets in the business-for-sale marketplace.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Too often tennis club owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Post-Sale Details
The way you exit your tennis club is just as important as the way you sell it. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Finding Tennis Clubs Buyers
It's difficult to predict where the buyer of your tennis club will come from. So you'll need to take a diverse approach to identifying prospective buyers. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Networking is another useful tool in locating buyers. It might surprise you to learn how many tennis club buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the tennis club is coming to an end, the time to sell is now. There are a lot of naysayers out there advising tennis club sellers (or would-be sellers) to take a wait and see approach. We aren't nearly as pessimistic about the tennis club marketplace. The inventory of what we consider to be quality tennis clubs is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
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