Advice on Niche Market Exit Planning
Selling a Tours and Charters Business
You've heard the naysayers - now isn't the time to sell a tours and charters business. But what they don't know is that many entrepreneurs see tours and charters businesses as a smart business investment.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Too often tours and charters business owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Valuation Methods
Professional appraisers can use three methods to determine the value ofa tours and charters business: The income method, the asset method and the market method. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. Using recent tours and charters business sales as its foundation, the market method factors market conditions into the valuation process. All three methods have multiple variations and it's not uncommon for appraisers to use a combination of the three to determine the value of your business. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. Brokerage is particularly common in the tours and charters business-for-sale market, where aggressive selling strategies are the norm. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Preparing Family Members
You're ready to sell your tours and charters business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a tours and charters business should allow opportunities for all family members to share their feelings and offer input about the sale process.
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