Sell a Business Tips
Selling a Sports and Entertainment Center
The decision to sell your sports and entertainment center 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.
When it comes to selling a sports and entertainment center, there are no shortcuts to success.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your sports and entertainment center.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Average Timeframes
Hoping for a quick sports and entertainment center sale? You may be disappointed. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. Before you can list your sports and entertainment center, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
How to Work with Business Brokers
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the sports and entertainment center-for-sale market, where aggressive selling strategies are the norm. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
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