Optimizing Business Exits
Selling a Rock Climbing and Rappelling Business
Is the economy still a little shaky for a business sale? Sure it is. Yet rock climbing and rappelling businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Selling a rock climbing and rappelling business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
There are many factors involved with the decision to sell a business. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a rock climbing and rappelling business sale. To improve sale outcomes, you will simply need to tailor your rock climbing and rappelling business to today's buyers.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a rock climbing and rappelling business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your rock climbing and rappelling business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Emotional Considerations
It's impossible to predict the emotional highs and lows you will experience during the sale of your rock climbing and rappelling business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a rock climbing and rappelling business sale by setting realistic expectations before you list your business.
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