Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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But the good news is that there is still demand for air sightseeing tour businesses that present well and offer solid earning potential.
In an air sightseeing tour business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your air sightseeing tour business. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. In the current economy, seller financing is becoming common in air sightseeing tour business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling an air sightseeing tour business should allow opportunities for all family members to share their feelings and offer input about the sale process.
Given your interest in exit planning and in air sightseeing tour businesses, you might find these additional resources to be of interest.
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