Niche Exit Planning Tactics
Selling a Weather Forecasts Services Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet weather forecasts services businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
It's a fact: Successful business sales take time.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a weather forecasts services business up for sale. With interest rates at all-time lows, it's easy to see why weather forecasts services businesses are an appealing investment opportunity for savvy investors. When the economy recovers there will be more weather forecasts services business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Selling to a Family Member
There is no easy way to sell a weather forecasts services business, not even to a family member. Often, a sale to a family member creates fractures within the family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Working with Appraisers
An experienced appraiser is part and parcel of a successful weather forecasts services business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Share this article
Additional Resources for Entrepreneurs