Advice on Niche Market Exit Planning
Selling a Tennis Courts Construction Business
There is a lot of confusion about the best way to sell a tennis courts construction business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
In a down economy, many tennis courts construction 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 tennis courts construction businesses that are actually for sale.
If you're looking for a reason to wait to put your business on the market, you'll find it. Selling a tennis courts construction business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Workforce Concerns
Business sellers walk a fine line when it comes to preparing their employees for a sale. You're concerned about confidentiality, and rightfully so. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the tennis courts construction business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Adjusting Expectations
When you made the decision to sell your tennis courts construction business, you had a specific set of outcomes in mind. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. In the event that the sale fails to meet your expectations, you may want to consider taking the business off the market until you can grow it enough to achieve your desired sale price.
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