Exit Planning Tips

Selling a Horse Associations and Organizations Business

No one said selling your business in a depressed economy would be easy. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.

You won't find any magic formulas for selling a horse associations and organizations business, especially while the market is struggling to overcome the perceptions created by a down economy.

Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.

Preparing Family Members

Many sellers embarked on their horse associations and organizations business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. The decision to sell a horse associations and organizations business should allow opportunities for all family members to share their feelings and offer input about the sale process.

Selling to a Family Member

There is no easy way to sell a horse associations and organizations business, not even to a family member. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. If you refuse to discount the sales price or offer other concessions, it could create a rift with the buyer. But if you give in to the buyer's demands, you risk alienating family members who may feel the buyer is receiving an early inheritance. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

When the Sale Goes Off-Course

It's not uncommon for the owners of small horse associations and organizations businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their horse associations and organizations businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your horse associations and organizations business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.

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