Exit Planning Advice By Market
Selling an Archery Range
You've invested time, effort, and creativity into building your archery range. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
There is no simple way to sell a business. But the most prepared archery range sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Advertising Your Sale
Profitable archery range sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. A highly publicized sale creates vulnerabilities that can be exploited by your competitors. Business brokers are skilled at publicizing archery range sales while maintaining the confidentiality that is critical to your business.
Should I Hire a Business Broker?
Anyone who has ever sold an archery range has eventually needed to decide whether to use a business broker or go it alone. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling an archery range. A highly skilled broker can compensate for his commission by selling your business for a significantly higher price than you could achieve on your own. But whether you use a broker or not, you may want to list your archery range on BizBuySell.com and other popular online business-for-sale listing sites.
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. You're concerned about confidentiality, and rightfully so. 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 archery range on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
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