December 14, 2019  
 
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Selling a Company

 

Selling an Airport Transportation and Parking Business

When it's time to sell your airport transportation and parking business, your future plans depend on your ability to get the highest possible sales price. Here's how to do it . . .

Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
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You'll always have an excuse for not putting your business on the market. With hard work and dedication, your airport transportation and parking business can be sold at or above fair market value right now.

Workforce Concerns

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 airport transportation and parking business on the market. Above all else, it's imperative to encourage your workers to maintain a positive attitude and work ethic. If you're having trouble navigating the employee minefield, consult a business broker for advice.

Dealing with Your Emotions

Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from an airport transportation and parking business scan stir up a range of emotions. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.

How Much Does It Cost to Sell an airport transportation and parking business?

The calculation of your asking price should include a buffer to cover the expense of the sale process. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.

More Exit Planning Articles

Given your interest in exit planning and in airport transportation and parking businesses, you might find these additional resources to be of interest.

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Renewing Leases Prior to Selling a Business


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