Advice on Niche Market Exit Planning
Selling a Travel Industry Business
There's a right way and a wrong way to sell a travel industry business these days. We'll tell you how to keep your sale and your future plans on track.
The economy isn't the only thing that is uncertain these days. So are travel industry business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to travel industry businesses that exhibit strong financials and potential for future growth.
Sale Preparations for Your Travel Industry Business
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Attractive travel industry business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Everything you do to increase market share and profitability has a payoff in the final sale price of your travel industry business. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Selecting a Broker
A good business broker is your best bet for a fast and profitable business sale. In the travel industry business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling travel industry businesses.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based travel industry business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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