Resources for Entrepreneurs

Exit Planning Techniques By Market

Selling a Fishing Guides and Charters Business

You've learned a lot during your tenure as a fishing guides and charters business owner. The next step is to position your business for the demands of the business-for-sale marketplace.

You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a fishing guides and charters business.

Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.

Equipment and Inventory Concerns

Buyers typically perform an independent appraisal of your fishing guides and charters 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. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your fishing guides and charters business.

Preparing Family Members

Many sellers embarked on their fishing guides and charters business sale without adequately considering the impact it will have on their families. Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a fishing guides and charters business has to include ample communication and shared decision-making.

Adjusting Expectations

Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your fishing guides and charters business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.

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