How to Sell a Niche Market Business
Selling an Exercise and Fitness Equipment Service and Repair Business
A good business is about more than dollars and sense. To make your exercise and fitness equipment service and repair business what it is today, you've had to fully invest yourself in its success. Now it's time to put that same kind of focus into selling it.
The economy isn't the only thing that is uncertain these days. So are exercise and fitness equipment service and repair business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Too often exercise and fitness equipment service and repair business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Average Timeframes
It's rarely possible to sell an exercise and fitness equipment service and repair business in a month or two. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your exercise and fitness equipment service and repair business, you'll need to invest as much as a year in preparing it for prospective buyers. Once your business is ready for the marketplace, it could take an additional six months to a year to locate the right buyer.
Leveraging Industry Connections
Today's exercise and fitness equipment service and repair business buyers can be found in a variety of locations. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your exercise and fitness equipment service and repair business, your business brokers may or may not be willing to conduct negotiations for you. A solo negotiation is a surefire way to may a tough job even tougher. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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