Exit Planning Advice By Market
Selling an Air Show Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the air show business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling an air show business in the current economic environment.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how an air show business sale works.
But the good news is that there is still demand for air show businesses that present well and offer solid earning potential.
Working with Appraisers
An experienced appraiser is part and parcel of a successful air show 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.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. Although some air show business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Sweetening the Deal
Seller concessions sweeten the deal for buyers and are a necessary fixture in a sluggish economy. Although a lower asking price is the ultimate seller concession, a price reduction isn't the only way to attract serious buyers. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in air show business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
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