How to Sell a Niche Market Business
Selling an Equestrian Sports and Recreation Business
A lot can go wrong during the sale of an equestrian sports and recreation business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a equestrian sports and recreation business sale. To improve sale outcomes, you will simply need to tailor your equestrian sports and recreation business to today's buyers.
Sale Costs
The calculation of your asking price should include a buffer to cover the expense of the sale process. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Attorneys, accountants and appraisers work for a flat fee that can range from hundreds to thousands of dollars. If you need to compensate employees to assist with the sale, their services should also be considered.
Finding Prospects
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. 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
Today's equestrian sports and recreation business buyers expect sellers to offer concessions to persuade them to close the deal. But don't limit your view of concessions to financial incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. If you aren't familiar with typical equestrian sports and recreation business concessions, consult with a professional to learn how you can build incentives into your deal.
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