Advice on Niche Market Exit Planning
Selling a Travel Agents Business
Your travel agents business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Despite your best intentions, great business sales don't happen overnight.
If you're ready to move on, now is the right time to sell your travel agents business.
Selecting a Broker
Good business brokers inevitably produce better business sales. During the selection process, look for brokers with a proven track record of successful travel agents business sales. Take our word for it -- travel agents businesses are unique businesses and you need a broker who understands how to properly market your travel agents business to prospective buyers. The chemistry you have with your broker is a consideration. If you don't connect with a specific broker, move on to someone else - even if the first broker looks great on paper.
Negotiation 101
It's critical to negotiate from a position of strength. Information is the key to a great travel agents business negotiation. However, the first step in good negotiating is to develop a sense of what you need to get out of the deal. A thorough understanding of sale price, possible concessions and other bottom line requirements gives you the ability to negotiate with confidence. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Family Issues
You're ready to sell your travel agents business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a travel agents business has to include ample communication and shared decision-making.
Share this article
Additional Resources for Entrepreneurs