Optimizing Business Exits
Selling a Tennis Equipment and Supplies Retail Business
Your tennis equipment and supplies store is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a tennis equipment and supplies store, capital restrictions are holding them back.
Love tennis? Maybe you should open a tennis supplies store!
You'll always have an excuse for not putting your business on the market. With hard work and dedication, your tennis equipment and supplies store can be sold at or above fair market value right now.
Dealing with Your Emotions
There is no easy way to say goodbye to your business. You probably have good reasons for selling your tennis equipment and supplies store now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
Business Assets
It's incumbent on buyers to commission their own appraisal of your tennis equipment and supplies store's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
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