Smart Exit Planning Strategies for Niche Markets
Selling a Guest Houses Business
When it's time to sell your guest houses business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .
You need to get a good price for your guest houses business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a guest houses business sale. You just need to know your buyers and structure the deal accordingly.
Handling Unexpected Outcomes
When you made the decision to sell your guest houses business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your guest houses business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
What to Expect in a Guest Houses Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your guest houses business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a guest houses business sale by setting realistic expectations before you list your business.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
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