Business Exits By Industry
Selling a Corn and Corn Cob Products Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet corn and corn cob products businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
These days, the prospect of selling a corn and corn cob products business is so daunting that many would-be sellers are biding their time, waiting for a break in the economic clouds.
Many business owners don't know that corn and corn cob products businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Surprises are inevitable, so to minimize the disappointment you will need to prioritize the outcomes you require from the sale. If price is the most important outcome, you may need to agree to seller financing or other concessions. If a fast sale is the highest priority, you may need to lower the asking price to quickly capture the attention of the marketplace.
Preparing Family Members
You're ready to sell your corn and corn cob products business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. As a seller, you need to be sensitive to your family's feelings about the sale and make an effort to keep them informed about the process. The decision to sell a corn and corn cob products business often begins with a family conversation and a mutual decision to move on the next stage of life.
When to End Negotiations
The negotiation stage of a corn and corn cob products business can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a corn and corn cob products 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.
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