Niche Market Exit Planning Tips
Selling a Beverage Coolers Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet beverage coolers businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
These days, the small and medium-sized business market is more confusing than ever before. Although there are plenty of entrepreneurs who want to buy a beverage coolers business, capital restrictions are holding them back.
Most beverage coolers businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your beverage coolers business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
When to End Negotiations
Negotiations have a way of dragging on forever. There are countless details that need to be hammered out before a Letter of Intent can be prepared and the process can move on to the due diligence stage. As the seller, you'll be on the front lines of negotiation and will need to know when it's time to bring negotiations to an end. In a beverage coolers business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Are You the Right Person to Sell Your Business?
There are benefits and drawbacks to handling the sale of your beverage coolers business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your beverage coolers business in the business-for-sale marketplace. The problem is that your passion for your business can also sabotage your sale. Business owners are subjective and biased about their company's true worth. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
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