Niche Market Exit Planning Tips
Selling a Bus Travel Business
A good business is about more than dollars and sense. To make your bus travel 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.
Dire economic forecasts have forced many bus travel business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
If you're ready to move on, now is the right time to sell your bus travel business.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your bus travel business's real 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. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
The Best Person to Sell Your Bus Travel Business
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the bus travel business to gain an objective sense of fair market value.
Timing the Market
Now may be the best time to sell a bus travel business. With interest rates at all-time lows, it's easy to see why bus travel businesses are an appealing investment opportunity for savvy investors. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
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