Advice on Niche Market Exit Planning
Selling a Table Tennis Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet table tennis businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
In a down economy, many table tennis business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of table tennis businesses that are actually for sale.
Despite the conventional wisdom, we believe current economic conditions are right for selling a table tennis business. Here's how to do it . . .
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
Negotiating Your Sale
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 table tennis 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.
When you sell a table tennis business, there are a number of variables you need to consider. Interest rates, spending, inflation, and other variables directly influence how long your table tennis business will be on the market as well as its sales price. If you base the decision to sell your table tennis business solely on the market, you may be in for a long wait. A much better approach is to focus on the factors that always attract buyers and investors. When it comes to selling a table tennis business, successful sales sales often boil down to the business itself - not the economy.
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