Exit Planning Tips

Selling a Hot Springs Business

A lot can go wrong during the sale of a hot springs business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.

Personal and professional concerns surround the sale of a hot springs business. But have you considered how your customers, vendors and employees will handle the sale?

For sellers who are willing to perform adequate sale preparation, the numbers make hot springs businesses a solid investment for qualified buyers in the business-for-sale marketplace.

The Best Person to Sell Your Hot Springs Business

There are benefits and drawbacks to handling the sale of your hot springs business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your hot springs business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the hot springs business to gain an objective sense of fair market value.

Sweetening the Deal

Today's hot springs business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. A limited amount of training and mentoring may seem inconsequential to you, but to a young hot springs business owner, they can be critical launching points for their ownership journey.

Pre-Sale Checklist

The upfront time you investment in the sale of your hot springs business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.

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