Profitable Niche Market Exit Plans
Selling an Outdoor Sports and Recreation Business
There's a right way and a wrong way to sell an outdoor sports and recreation business these days. We'll tell you how to keep your sale and your future plans on track.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
But the good news is that there is still demand for outdoor sports and recreation businesses that present well and offer solid earning potential.
Emotional Considerations
Prepare yourself to feel a broad range of emotions when you sell an outdoor sports and recreation business. From hopefulness to remorse, it's all part of exiting of your company. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. You can prepare yourself by talking through your emotions with friends and family members, and thoroughly evaluating your minimum requirements before you put your outdoor sports and recreation business on the market.
Negotiation 101
There's no room for error when you negotiate the sale ofan outdoor sports and recreation business. More often than not, the person with the most knowledge will come out on top in an outdoor sports and recreation business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Advantages of Hiring a Broker
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. More importantly, brokers have the ability to identify serious buyers and maintain confidentiality throughout the sale process. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
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