November 13, 2019  
 
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Resources for Entrepreneurs

 

How to Sell to a Business

 

Selling an Auto Racing Business

Selling an auto racing business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.

The process of selling an auto racing business can be one of the most stressful experiences of your entrepreneurial career.
(article continues below)

The economy hasn't squashed the market for auto racing businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.

Pre-Sale Checklist

There is a lot of work that needs to be done before you're ready to sell your auto racing business. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.

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. If you keep your employees out of the loop too long, it's inevitable that misinformation will filter throughout your workplace. 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 auto racing 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.

Working with Appraisers

An experienced appraiser is part and parcel of a successful auto racing business sale. Leading industry appraisers equip sellers with a value gauge that can be accessed during negotiations. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.

More Info on Business Transitions and Related Articles

Given your interest in exit planning and in auto racing businesses, you might find these additional resources to be of interest.

Marketing an Auto Racing Business

Pros and Cons of Using Business Brokers

Renewing Leases Prior to Selling a Business

Five Tips for Maximizing Your Business Sale Price


Conversation Board

Want to continue the discussion about how to sell an auto racing business? If you have firsthand knowledge about exit planning issues and challenges, we invite you to submit your comments. Questions are also encouraged!


Questions, Comments, Tips, and Advice  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

Need Information on Starting an Auto Racing Business?

If you plan on opening an auto racing business, these helpul resources may be just what you've been looking for:

Starting an Auto Racing Business

Do You Market Products or Services to Auto Racing Businesses?

If you consider auto racing businesses to be sales prospects, this isn't the best resource for you on our site. Try these useful resources instead:

Selling to Auto Racing Businesses

Mailing Lists for Auto Racing Businesses

More Business Transfer Information

If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.

Browse more niche exit planning guides:

 

 

 

 

Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

Contributors

Business Glossary