How do I go about finding a buyer and making sure that I am getting the best price?

ITPS has been responsible for approximately $700 million in buying and selling transactions of dry and wet parks. Each park transaction and process has a personality and a life of its own. Some processes can move very quickly and others like molasses.

There are 3 important considerations to review when selling.

1. First, are you really serious about the divestiture?

Examine the reasons you are considering selling the attraction. Is there no viable successor in the family? Too many arguments within the family causing both emotional and financial stress? Has the business become too capital intensive or there is little money available for general maintenance?

2. Have you thought about the personal and family ramifications that can arise from a sale of a property?

The sale of a family property has very unique issues to that must be sensitively resolved. It can be emotional and has the potential to cloud your judgement.

3. Is the property in a reasonable state of repair and will it show well when taken to marketplace?

ITPS was engaged to look at a property that was once one of the best privately owned small parks in the country. It sold after the owner died and was taken over by a company which was tangentially related to our industry - a distant cousin. The new owner did not understand our business, and let the park lapse in terms of capital expenditures and, even worse it lapsed in maintenance expenditures. The park began to deteriorate over a few years. Assets deteriorated, as well as employee morale. During the time the park was owned by the new company, competition in the not too distant markets began to intensify. The park was in a severe downward spin. We looked at it for our client and suggested they forgo any further consideration. The park continued to go downhill in every sense. There was a time when we would have “snapped it up” immediately, but time expired.