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.
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