Market timing is a perennial problem for business sellers.
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The economy hasn't squashed the market for canoe and kayak rental businesses. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Today's canoe and kayak rental business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young canoe and kayak rental business owner, they can be critical launching points for their ownership journey.
The pre-sale checklist for a canoe and kayak rental business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. 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.
How to Work with Business Brokers
Brokerage is a mainstay of the business-for-sale marketplace. Brokers routinely work with canoe and kayak rental business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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