Selling a Business Advice
Selling an Indoor Playground
No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
We're seeing a high volume of shadow inventory in the business-for-sale market.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a indoor playground.
Closing Strategies
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your indoor playground. Concessions can consist of non-cash as well as cash incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. In the current economy, seller financing is becoming common in indoor playground 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.
Broker vs. No Broker
When selling an indoor playground, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your indoor playground much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered indoor playground sale.
The Emotions of a Business Sale
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your indoor playground now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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