Exit Planning Advice By Market
Selling an Air Boat Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the air boat business marketplace has been a shaky environment for sellers. Here's what you'll need to know to sell an air boat business during challenging economic times.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Undaunted by economic conditions, many air boat business sellers are achieving their sale goals through deliberate sale strategies.
Timing the Market
Now may be the best time to sell an air boat business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on air boat businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. 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
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based air boat business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. It's typical for air boat business to rely on brokers to reduce market time and increase the final sales price. 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.
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