September 27, 2020  
 
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Selling a Dog and Horse Racing Business

No one said selling your business in a depressed economy would be easy. Fortunately, a dog and horse racing business sale isn't as scary as it seems.

Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your dog and horse racing business can attract buyers who recognize its potential.
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Undaunted by economic conditions, many dog and horse racing business sellers are achieving their sale goals through deliberate sale strategies.

Broker vs. No Broker

When selling a dog and horse racing business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your dog and horse racing business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.

Equipment and Inventory Concerns

It's incumbent on buyers to commission their own appraisal of your dog and horse racing business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.

Before You Sell

There is a lot of work that needs to be done before you're ready to sell your dog and horse racing business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.

More Exit Planning Articles

Given your interest in exit planning and in dog and horse racing businesses, you might find these additional resources to be of interest.

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What challenges have you experienced in selling a dog and horse racing business or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


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