Advice on Niche Market Exit Planning
Selling a Travel Consultants Business
It's a misconception that no one is buying travel consultants businesses these days. Savvy entrepreneurs see travel consultants business opportunities as a path to short-term profits and long-term growth. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Dire economic forecasts have forced many travel consultants business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
In order to market a travel consultants business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Leveraging External Resources
There are a range of professionals available to guide you through the sale of a travel consultants business. Although it's wise to recruit a business broker, brokerage isn't your only concern. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your travel consultants business, it's likely that you will be the front line negotiator. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. By enlisting the assistance of a negotiation team (senior leaders, experienced negotiators, etc.), you can improve the quality of your negotiation strategy and position yourself to receive top dollar for your travel consultants business.
Sale Preparations for Your Travel Consultants Business
The outcome of a business sale is largely determined prior to a market listing. Profitable travel consultants business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your travel consultants business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
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