These days, the prospect of selling a ballroom and social dance school is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
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The business-for-sale market is extremely dynamic. So if you're waiting for the perfect market conditions to sell your ballroom and social dance school, you could be waiting a while. If your business is ready to be sold, the time to sell is now. You just need to know your buyers and structure the deal accordingly.
An experienced appraiser is part and parcel of a successful ballroom and social dance school sale. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. 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.
The Emotions of a Business Sale
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. You probably have good reasons for selling your ballroom and social dance school now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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