Niche Market Exit Planning Tips
Selling a Beekeepers Business
Many business leaders say that now isn't the time to try to sell a beekeepers business. At Gaebler, we think it's a great time to sell a beekeepers business. Here's why . . ..
The process of selling a beekeepers business can be one of the most stressful experiences of your entrepreneurial career.
Despite the conventional wisdom, we believe current economic conditions are right for selling a beekeepers business. With the right information and strategy, you could be well on your way to a successful sale
Adjusting Expectations
Every business seller dreams of a fast sale and a fat payday. 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 beekeepers business. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions beekeepers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Preparing Your Beekeepers Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Successful beekeepers business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your beekeepers business, the amount of preparation you perform will have direct correlation on asking and sale prices. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
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