You've invested too much in your horse riding school to let it be sold for less than its worth. But unless you adequately prepare for the sale, some lucky buyer may walk away with a huge discount.
(article continues below)
But the good news is that there is still demand for horse riding schools that present well and offer solid earning potential.
Preparing Family Members
Many sellers embarked on their horse riding school 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. The decision to sell a horse riding school often begins with a family conversation and a mutual decision to move on the next stage of life.
Seller concessions are becoming more commonplace in business-for-sale transactions. By far, seller financing is the most sought-after concession, especially in the current economic environment. With entrepreneurs struggling to secure capital, you may be the buyer's only source of financing. As an alternative, clearly state that seller financing is not an option and consider offering other concessions to see the sale through to its completion.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
We think you may find these additional resources to be of interest.
If you plan on opening a horse riding school, these guides will help you get started:
If you consider horse riding schools to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are eager to get business succession tips for a different industry, please browse our list of exit planning guides below.