Sell a Business Tips
Selling a Surfing Instruction Business
You've heard the naysayers - now isn't the time to sell a surfing instruction business. But what they don't know is that many entrepreneurs see surfing instruction businesses as a smart business investment.
The business-for-sale market is just as frustrating for buyers as it is for sellers these days. Although there are plenty of entrepreneurs who want to buy a surfing instruction business, capital restrictions are holding them back.
But at Gaebler, we see surfing instruction businesses still selling at a brisk pace. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Leveraging Seller Concessions
Seller concessions are becoming more commonplace in business-for-sale transactions. Not surprisingly, seller financing is routinely requested by today's buyers. Traditional lenders and investors are gun shy - and that makes sellers a logical funding source for many buyers. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
Understanding Market Timing
Worried about timing? Believe it or not, this could be an advantageous time to put a surfing instruction business up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on surfing instruction businesses. When the economy recovers there will be more surfing instruction business buyers on the market, but higher interest rates could present challenges. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Signs You're in Over Your Head
Many surfing instruction business are tempted to save brokerage fees by selling their businesses on their own. But for every successful unassisted sale, several other surfing instruction businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.
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