Business Exits By Industry
Selling a Chinese Food Business
There are few things as intimidating as selling a business in a sluggish economy. Fortunately, a Chinese food business sale isn't as scary as it seems.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a Chinese food business.
If you're ready to move on, now is the right time to sell your Chinese food business.
Buyer Concessions
Most Chinese food business sellers realize they will need to offer concessions to sell their businesses. But for every concession you grant, there may be an opportunity to obtain a concession from the buyer. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Like seller concessions, buyer concessions should be addressed during negotiations, before the preparation of a Letter of Intent.
Working with Appraisers
There is no substitute for a qualified appraisal in the sale of your Chinese food business. Armed with a professional appraisal, both you and your broker can enter the negotiation stage with confidence. If you're disappointed with the appraiser's estimate of your company's worth, you have the option of seeking a second opinion. However, it's more often the case that you will need to adjust your expectations of your business's value to buyers.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your Chinese food 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.
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