Niche Exit Planning Strategies
Selling a Dessert Business
No one said selling your business in a depressed economy would be easy. Fortunately, a dessert business sale isn't as scary as it seems.
The economy isn't the only thing that is uncertain these days. So are dessert business buyers, many of whom are waiting to pull the trigger on their next acquisition.
Sweet news for entrepreneurs! It's estimated that Americans consume as much as $23 billion in desserts per year.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to dessert businesses that exhibit strong financials and potential for future growth.
Dealing with Buyers
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. It's completely normal for dessert business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Selecting a Broker
Good business brokers inevitably produce better business sales. In the dessert business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling dessert businesses.
Average Preparation Time
It's critical to properly plan for the sale ofa dessert business. Buyers want to see growth trends, healthy profits and other variables that increase the likelihood of long-term success. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a dessert business can rarely be ready for the marketplace in less than six months. If you can afford to wait, we recommend investing a few years in improving your business's financial position before you put it on the market.
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