Cutting corners never pays off, especially in the sale of a bowling instruction business.
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If you're ready to move on, now is the right time to sell your bowling instruction business.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your bowling instruction business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some bowling instruction business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your bowling instruction business until the prospect has been qualified as a serious buyer.
We run into a lot of bowling instruction business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . By the time the deal reaches the final contract, many of its features are set in stone. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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