The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a beach and pool cabanas business, capital restrictions are holding them back.
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Too often beach and pool cabanas business sellers sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Before You Sell
The upfront time you investment in the sale of your beach and pool cabanas business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your beach and pool cabanas business until the prospect has been qualified as a serious buyer.
In a beach and pool cabanas business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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