Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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Does that mean selling your ATV tour business will be a piece of cake? No -- but you might be surprised to learn that the ATV tour businesses that are selling these days are finding success though simple, common sense selling strategies.
Average Preparation Time
There are no effective shortcuts for selling an ATV tour business. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your ATV tour business for the marketplace. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. The more people who know that the business is on the market, the riskier the sale becomes. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the ATV tour business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Sometimes, sellers need to readjust their expectations to accommodate market realties. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Given your interest in exit planning and in ATV tour businesses, you might find these additional resources to be of interest.
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