Advice on Niche Market Exit Planning
Selling a Travel Agencies Referral and Information Services Business
The decision to sell your travel agencies referral and information services business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
These days, the prospect of selling a travel agencies referral and information services business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
Most travel agencies referral and information services businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Sale Costs
In a travel agencies referral and information services business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Professional consultations can also represent a significant expense during the course of a travel agencies referral and information services business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Sale Preparation Timeframes
There are no effective shortcuts for selling a travel agencies referral and information services business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a travel agencies referral and information services business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your travel agencies referral and information services business until the prospect has been qualified as a serious buyer.
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