Advice on Niche Market Exit Planning
Selling a Travel Emergency Assistance Business
It's a misconception that no one is buying travel emergency assistance businesses these days. Savvy entrepreneurs see travel emergency assistance business opportunities as a path to short-term profits and long-term growth. Although final sales prices vary, the best sales combine strategy and hard work to achieve desired outcomes.
You need to get a good price for your travel emergency assistance business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Most travel emergency assistance businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
When the Sale Goes Off-Course
Many travel emergency assistance business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your travel emergency assistance business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Laying the Groundwork
Effective travel emergency assistance business preparation focuses on communicating value to prospective buyers. Professional business brokers understand buyers and know how to properly communicate a travel emergency assistance business to the marketplace. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium travel emergency assistance business opportunity.
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