Niche Market Exit Planning Tips
Selling a Botanical Gardens Business
Owning a botanical gardens business hasn't always been a bed of roses, but it's been worth the effort. The next step is to position your business for the demands of the business-for-sale marketplace.
In a down economy, many botanical gardens business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of botanical gardens businesses that are actually for sale.
Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
How Much Does It Cost to Sell a botanical gardens business?
The calculation of your asking price should include a buffer to cover the expense of the sale process. Hiring a broker is a mixed bag because although brokers can increase the sale price, they also take a 10% fee. Professional consultations can also represent a significant expense during the course of a botanical gardens business sale. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some botanical gardens business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for botanical gardens businesses than other buyers.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized botanical gardens business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
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