The economy isn't the only thing that is uncertain these days. So are lodges business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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Many business owners don't know that lodges businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
When you sell a lodges business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your lodges business will be on the market as well as its sales price. The truth is that perfect market conditions may never materialize. Rather than watching the economy, we recommend watching buyers and tailoring your business to meet their investment expectations. When it comes to selling a lodges business, successful sales sales often boil down to the business itself - not the economy.
Leveraging Industry Connections
These days, lodges business buyers are an extremely diverse group with backgrounds in and outside of the industry. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
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