November 11, 2019  
 
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Selling a Company

 

Selling a Local Bus Charters Business

The decision to sell your local bus charters business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.

Today's local bus charters business buyers tend to be more skeptical than most about the nation's economic outlook.
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The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a local bus charters business sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.

Preparing Family Members

You're ready to sell your local bus charters business, but is your family prepared for the transition? 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. Subsequently, selling a local bus charters business has to include ample communication and shared decision-making.

When to End Negotiations

Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.

Legal Concerns

In a local bus charters 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.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Marketing a Local Bus Charters Business

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