November 25, 2020  
 
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Selling a Company

 

Selling a Spas and Hot Tubs Rental and Leasing Business

The decision to sell your spas and hot tubs rental and leasing business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.

Dire economic forecasts have forced many spas and hot tubs rental and leasing business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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Undaunted by economic conditions, many spas and hot tubs rental and leasing business sellers are achieving their sale goals through deliberate sale strategies.

Advertising Your Sale

Profitable spas and hot tubs rental and leasing business sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. The best way to advertise a spas and hot tubs rental and leasing business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.

When to End Negotiations

Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a spas and hot tubs rental and leasing business sale, a stalled negotiation can be an indication that the deal is dead. Since it can be difficult to tell whether the buyer is serious or playing games, it's important to know the lower boundaries of your negotiation strategy and be willing to walk away from the negotiation table, if necessary.

Legal Considerations

There is no way around the requirement to hire professional legal assistance when you sell your spas and hot tubs rental and leasing business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your spas and hot tubs rental and leasing business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.

More Exit Planning Articles

Given your interest in exit planning and in spas and hot tubs rental and leasing businesses, you might find these additional resources to be of interest.

Marketing a Spas and Hot Tubs Rental and Leasing Business

Role of Location In Selling a Business

Why Hire an Exit Planning Consultant

Pros and Cons of Using Business Brokers


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