Optimizing Business Exits
Selling a Recreation and Sports Books Business
Is the economy still a little shaky for a business sale? Sure it is. Yet recreation and sports books businesses continue to sell at a brisk pace, regardless of the economy.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
In today's market, there is still plenty of room for recreation and sports books businesses that demonstrate solid earning capacity and a robust market position.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. It's likely that non-serious buyers will want to know everything about your recreation and sports books business during their initial inquires. Avoid releasing details about your recreation and sports books business until you have established that they have the financial capacity to make a legitimate offer.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. In the recreation and sports books business industry, experience is a must-have characteristic for qualified brokerage. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Whether you know it or not, prospective buyers for your recreation and sports books business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some recreation and sports books business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
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