Niche Exit Planning Tactics
Selling a Wedding Receptions and Parties Business
Is the economy still a little shaky for a business sale? Sure it is. Yet wedding receptions and parties businesses continue to sell at a brisk pace, regardless of the economy.
Today's wedding receptions and parties business buyers tend to be more skeptical than most about the nation's economic outlook.
Undaunted by economic conditions, many wedding receptions and parties business sellers are achieving their sale goals through deliberate sale strategies.
What to Expect in a Wedding Receptions & Parties Business Sale
It's impossible to predict the emotional highs and lows you will experience during the sale of your wedding receptions and parties business. Many sellers experience discouragement during a long sale process. Although it isn't easy, you can mitigate the emotional impact of a wedding receptions and parties business sale by setting realistic expectations before you list your business.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized wedding receptions and parties business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Benefits of Third-Party Assistance
At some point, you're going to need help selling your wedding receptions and parties business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your wedding receptions and parties business, you can avoid painful tax and legal complications both before and after closing.
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