Business Exits By Industry
Selling a Chinese Foods Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your Chinese foods business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
You need to get a good price for your Chinese foods business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
If you're ready to move on, now is the right time to sell your Chinese foods business.
Selling a Chinese Foods Business to an Employee
Employee sales have pros and cons. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based Chinese foods business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Leveraging Industry Connections
There are a lot of different places to look for Chinese foods business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Average Timeframes
Hoping for a quick Chinese foods business sale? You may be disappointed. Although asking price and other factors contribute to sale time, it's difficult to predict how long your business will be on the market before you locate the right buyer. Before you can list your Chinese foods business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
Share this article
Additional Resources for Entrepreneurs