Sell a Business for the Best Price
Selling a Private Tennis Courts Business
You've heard the naysayers - now isn't the time to sell a private tennis courts business. But what they don't know is that many entrepreneurs see private tennis courts businesses as a smart business investment.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a private tennis courts business, capital restrictions are holding them back.
Too often private tennis courts business owners cave under the pressure and settle for a lower sales price than they should. Smart sellers know the value of their companies are prepared to identify buyers who are willing to pay top dollar.
Signs You're in Over Your Head
Many private tennis courts business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other private tennis courts businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. If you decide to go solo and your business has been on the market for more than six months without a single buyer inquiry, it's time to hire a professional business broker. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your private tennis courts business is priced out of the market. The remedy is professional brokerage or a consultation with more experienced sellers.
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your private tennis courts business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
For most owners, the hardest part of selling a private tennis courts business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
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