Niche Exit Planning Strategies
Selling a Dog and Cat Foods Retail Business
Is the economy still a little shaky for a business sale? Sure it is. Yet dog and cat foods retail businesses continue to sell at a brisk pace, regardless of the economy.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a dog and cat foods retail business.
At Gaebler, we think waiting for the economy to rebound is a mistake for many business owners. Selling a dog and cat foods retail business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your dog and cat foods retail business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
How to Identify Prospective Buyers
Many sellers don't realize how many prospective buyers there are for their businesses. Although some dog and cat foods retail business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Sweetening the Deal
Today's dog and cat foods retail business buyers expect sellers to offer concessions to persuade them to close the deal. Concessions can consist of non-cash as well as cash incentives. It's not unusual for sellers to offer non-cash incentives to help inexperienced entrepreneurs get off to a successful start. If you aren't familiar with typical dog and cat foods retail business concessions, consult with a professional to learn how you can build incentives into your deal.
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