FREQUENTLY ASKED QUESTIONS

Seller Question:
You sound like a broker. How does your service differ?

In many ways, our services are similar to those of a business broker. That is, we bring potential buyers together with business sellers. However, we are strictly a listing and marketing service provider, dedicated to the lodging industry. We utilize the internet to attract potential buyers and interested sellers and then bring them together. We also offer other marketing tools to help you get your property sold as quickly as possible, including website design, creating property fliers, and putting you in touch with consultants and professionals who can help valuate your business and secure financing for the buyer.  And, we do not charge commissions – ever.

 

Seller Question:
If I list my business for sale with LodgingAmerica.com, how long am I committed for?

A Basic Listing or a Deluxe Listing is good for one year.  If you choose to have us create a personalized property-for-sale website, this is good for one year (hosting for one year included in the fee; renewals are available at a discount).  If you select to use our Superior Commercial Service, we require just a six month agreement.  If you do not find a qualified buyer within this time frame, you do not have to renew any of your services with us.  The marketing services we offer are just one time fees.  There are no additional hidden fees, and we charge no commissions should you sell your property at any time. Please note, there are no refunds should you sell your property before the end of your service agreement.

 

Seller Question:
How do I sign up to get my property listed on LodgingAmerica.com?

Just fill out the form on our website, select the type of listing you prefer (Basic or Deluxe), plus any additional marketing services, and submit the form to us through our website.  Once the form has been received, we will review it and then send you a confirmation along with an invoice for payment.  Your listing will not be activated until payment has been received.  If you have selected a Deluxe Listing, you may submit up to 7 photos, which can be uploaded with the form.  If you prefer to e-mail the photos or send them to us on a disk, please feel free to do so. Please make sure each photo is in a .jpg format and is less than 1 megabyte in size.

You also have the option of printing out the form and faxing it to us (our fax number is 732-495-7058).

 

Please feel free to call us any time with questions you may have about signing up or submitting photos.  Our toll free number is (877) US-LODGING (877-875-6344).  Our regular business hours are Monday-Friday, 9am-5pm EST.

 

Seller Question:
When do I pay you for your service?

All fees for our services are due upfront in order to get your information on our website and to get you any marketing materials you may have purchased from us. You may pay by check or by credit card (Visa, MasterCard, Discover, American Express or PayPal).

 

Seller Question:
How will I know I am getting the right price for my lodging business?

We also have established a relationship with a top business valuation service. They have performed thousands of business valuations with accuracy and quality on a national basis. Business valuations can be completed quickly and accurately. You can contact us for additional information.

Seller Question:
I’m thinking about selling, but don’t want my staff and competitors to know. Can I avoid letting them know?

Our service employs the very highest standards of privacy and security. We deal only with the seller and disclose only the information our sellers wish to disclose. You can be confident that no information will be released without your prior approval.

 

Buyer Question:
Do you provide buyer financing?

We can help put potential buyers in touch with a variety of lenders who offer commercial, conventional and SBA business loans.  We have a relationship with a variety of lenders nationwide, and since each buyer’s needs are different, we can direct you to the lender who is most suited to helping you obtain the financing you need.

 

Buyer Question:
What are some considerations when buying a business?

First, is it a business you like? One that you will be comfortable working in? Other things to pay attention to include where the business is located and the owners true discretionary income. You should also consider how you will improve the business and make it even more successful.

 

General Question:
Don’t people only sell when their business is failing?

This is a common misconception.  There are many reasons people may sell a business.  A big one is retirement. Sometimes a business owner may want to sell his business to invest in another business. Other reasons include health, divorce, relocation, desire to do something else or just plain burnout. Most businesses that have survived for years could not have been losing money consistently. Regardless, an existing business will have several years of financials to review and evaluate.

 

General Question:
Is the information I am sending you safe and secure?

If you are listing your property on our website, you may disclose as little or as much information as you like.  All forms on our website are encrypted so your personal information is secure when corresponding with us online.  Online credit card payments are processed through the PayPal website, a TRUSTe licensee and a VeriSign Secured site.