Profitable Niche Market Exit Plans
Selling an Outdoor Sports Equipment and Supplies Business
Most businesses are susceptible to economic conditions and outdoor sports equipment and supplies businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
Dire economic forecasts have forced many outdoor sports equipment and supplies business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a outdoor sports equipment and supplies business.
Maintaining Objectivity
For most owners, the hardest part of selling an outdoor sports equipment and supplies business is remaining objective. Sellers typically overvalue their companies compared to the rest of the marketplace. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Business Assets
It's incumbent on buyers to commission their own appraisal of your outdoor sports equipment and supplies business's inventory, equipment, and physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your outdoor sports equipment and supplies business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the outdoor sports equipment and supplies business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling outdoor sports equipment and supplies businesses.
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