Advice on Niche Market Exit Planning
Selling a Theme Party Facilities Business
A lot can go wrong during the sale of a theme party facilities business even if the seller has previous business sales experience. We'll tell you how to keep your sale and your future plans on track.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
They require careful planning and an intentional strategy that emphasizes your theme party facilities business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Handling Unexpected Outcomes
When you made the decision to sell your theme party facilities business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your theme party facilities business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Maintaining Objectivity
For most owners, the hardest part of selling a theme party facilities business is remaining objective. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your theme party facilities business. The bad news is that they will lack the financial capacity to close the deal. 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. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your theme party facilities business during their initial inquires. Avoid releasing details about your theme party facilities business until you have established that they have the financial capacity to make a legitimate offer.
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