Niche Market Exit Planning Tips
Selling a Bowling Pro Shops Business
Don't believe anyone who tells you it's easy to sell a bowling pro shops business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Too often bowling pro shops business sellers fail to receive fair market value for their businesses. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
It's obvious that you're going to need to hire an attorney to finalize the sale of your bowling pro shops business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
The decision to sell your bowling pro shops business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your bowling pro shops business attractive to buyers.
As a business seller, you have to be at the top of your negotiating game. Information is the key to a great bowling pro shops business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your bowling pro shops business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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