Sell a Business Tips
Selling a Sports and Entertainment Associations Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, sports and entertainment associations businesses haven't been deterred. In fact, we think this economy is a ripe environment for a sports and entertainment associations business sale.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact sports and entertainment associations business sales nearly as much as sale strategy.
Too often sports and entertainment associations business owners fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Before You Sell
The pre-sale checklist for a sports and entertainment associations business is long and is full of critical tasks that will likely determine the success (or failure) of your sale. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
Selling a Sports & Entertainment Associations Business to an Employee
Employee sales have pros and cons. A key employee may seem like a natural sales prospect. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. A seller-financed deal may be necessary unless the employee has significant assets or investor backing.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a sports and entertainment associations business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. We also suggest hiring an attorney, an appraiser, and an accountant early in the process. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
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