Niche Market Exit Planning Tips
Selling a Beef Jerky Business
No one said selling your business in a depressed economy would be easy. Fortunately, a beef jerky business sale isn't as scary as it seems.
You need to get a good price for your beef jerky business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
The business-for-sale market is extremely dynamic. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a beef jerky business sale. To improve sale outcomes, you will simply need to tailor your beef jerky business to today's buyers.
Handling Unexpected Outcomes
If you're smart, you entered your beef jerky business with a set of assumptions about what it would achieve. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your beef jerky business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Finding Prospects
Whether you know it or not, prospective buyers for your beef jerky business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based beef jerky business sale can be more complicated than selling to a stranger. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
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