Business Exits By Industry
Selling a Commissary Services Business
For the right sellers, the business-for-sale marketplace is a friendly environment for commissary services business opportunities. There aren't any guarantees, but if you adhere to fundamental business sale concepts, you can likely get a good price for your business.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Undaunted by economic conditions, many commissary services business sellers are achieving their sale goals through deliberate sale strategies.
Average Preparation Time
There are no effective shortcuts for selling a commissary services business. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. At a minimum, plan on spending six months preparing your commissary services business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a commissary services business sale, a stalled negotiation can be an indication that the deal is dead. If you are adequately prepared, you'll know what your bottom line is -- and if the buyer is unwilling to meet your bottom line requirements or if negotiations are stalled, it's time to step back from the negotiating table and re-evaluate your options.
Leveraging Industry Connections
Today's commissary services business buyers can be found in a variety of locations. Online business-for-sale databases have value, although they appeal to an exceptionally wide base of prospects. 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. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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