Business Exits By Industry
Selling a Cocktail Mixes Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the cocktail mixes business market has been exceptionally volatile. Here's what you'll need to know to sell a cocktail mixes business during challenging economic times.
It takes dedication to sell a cocktail mixes business under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Qualified buyers are constantly looking for attractive cocktail mixes businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
The Best Person to Sell Your Cocktail Mixes Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your cocktail mixes business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful cocktail mixes business sale.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a cocktail mixes business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your cocktail mixes business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your cocktail mixes business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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