Niche Exit Planning Strategies
Selling a Dance Instructors Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet dance instructors businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
The dance instructors business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a dance instructors business sale. To improve sale outcomes, you will simply need to tailor your dance instructors business to today's buyers.
Working with Appraisers
An experienced appraiser is part and parcel of a successful dance instructors business sale. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage 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.
Preparing Your Dance Instructors Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable dance instructors business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Branding, market positioning, and revenue growth take time, but they directly influence the price your dance instructors business will command in the marketplace. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood dance instructors business sellers with questions and requests, often to the point of becoming a nuisance. The questions dance instructors business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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