Exit Planning Techniques By Market
Selling a Fishing Expeditions Business
Many business leaders say that now isn't the time to try to sell a fishing expeditions business. At Gaebler, we think it's a great time to sell a fishing expeditions business. Here's why . . ..
You won't find any magic formulas for selling a fishing expeditions business, especially while the market is struggling to overcome the perceptions created by a down economy.
If your exit strategy involves selling a fishing expeditions business now, sellers need to make a strong case for buyers to purchase at or near the asking price.
Professional Appraisals
There is no substitute for a qualified appraisal in the sale of your fishing expeditions business. Leading industry appraisers equip sellers with a value gauge that can be accessed 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.
Promoting a fishing expeditions business Sale
Successful fishing expeditions business sales incorporate comprehensive advertising plans. But if you think advertising your fishing expeditions business will be the same as running a product promotion, think again. Multiple factors complicate business-for-sale advertising, not the least of which is the fact that you don't want your competition to know that your company is on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing fishing expeditions business sales while maintaining the confidentiality that is critical to your business.
Business Assets
It's incumbent on buyers to commission their own appraisal of your fishing expeditions business's real 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.
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