Profitable Niche Market Exit Plans
Selling an Observatory
You've heard the naysayers - now isn't the time to sell a observatory. But what they don't know is that many entrepreneurs see observatories as a smart business investment.
Personal and professional concerns surround the sale of an observatory. In our experience, a common owner concern is how the sale will affect customers and employees.
Most observatories are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Buyer Identification
It's difficult to predict where the buyer of your observatory will come from. So you'll need to take a diverse approach to identifying prospective buyers. Many sellers achieve success by listing their observatories in multiple channels. Networking is another useful tool in locating buyers. It might surprise you to learn how many observatory buyers emerge from conversations with peer groups, vendors, and business associations. In some cases, leads obtained through networking are preferred because they come with personal recommendations.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. It is difficult for many owners to accept the cold, hard facts about their company's worth, but objectivity is the name of the game in a successful observatory sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Legal Considerations
It pays to invest in first-rate legal counsel when you sell an observatory. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
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