Niche Exit Planning Tactics
Selling a Water Skiing School
Unfortunately, many sellers are waiting to list their water skiing instruction schools until the economy fully rebounds. We think that's a mistake because for the right buyers, water skiing instruction schools are a great investment.
The water skiing instruction business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
You'll always have an excuse for not putting your business on the market. Selling a water skiing instruction business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Legal Concerns
In a water skiing instruction business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . The price described in the Letter of Intent may fluctuate based on information that is revealed during due diligence, but the inclusion of new requirements in the final contract could be a deal killer. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your water skiing instruction business may be a waste of time.
Preparing Family Members
Many sellers embarked on their water skiing instruction business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. Unless everyone is prepared for it, the sale could have a devastating effect on your family. Subsequently, selling a water skiing instruction business often begins with a family conversation and a mutual decision to move on the next stage of life.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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