October 25, 2020  
 
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Selling a Company

 

Selling a Vistor's Center

Business-for-sale markets are susceptible to a variety of influences. As you know, the visitor center industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a visitor center during challenging economic times.

Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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If you're looking for a reason to wait to put your business on the market, you'll find it. With hard work and dedication, your visitor center can be sold at or above fair market value right now.

Average Preparation Time

Preparing a visitor center sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Additionally, prospective buyers usually request documentation that allows them to understand the business's daily workflows and operational strategy. Since all of this takes time and effort, a visitor center can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.

Negotiating Your Sale

There's no room for error when you negotiate the sale ofa visitor center. More often than not, the person with the most knowledge will come out on top in a visitor center 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.

Are You the Right Person to Sell Your Business?

As the owner, you are both the best and worst person to sell your visitor center. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. You see your company's potential. But buyers don't pay for potential - they pay for current market value. At a minimum, conduct an independent appraisal of the visitor center to gain an objective sense of fair market value.

More Exit Planning Articles

We think you may find these additional resources to be of interest.

Pre-Exit Employee Incentive Programs

Marketing a Vistor's Center

Selling Part of a Business


Conversation Board

What challenges have you experienced in selling a visitor center or are you just getting started? If you have questions or advice to share, we'd love to hear from you!


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