Sell a Business Tips
Selling a Skating Rinks Installation, Equipment, and Supplies Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet skating rinks installation, equipment, and supplies businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
In a down economy, many skating rinks installation, equipment, and supplies business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of skating rinks installation, equipment, and supplies businesses that are actually for sale.
The economy hasn't squashed the market for skating rinks installation, equipment, and supplies businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Why Confidentiality Matters
Highly publicized skating rinks installation, equipment, and supplies business sales are risky skating rinks installation, equipment, and supplies businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your skating rinks installation, equipment, and supplies business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your skating rinks installation, equipment, and supplies business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Sellers typically overvalue their companies compared to the rest of the marketplace. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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