Exit Planning Techniques By Market
Selling a Farm Buildings Business
Your farm buildings business has been good to you. The next step is to position your business for the demands of the business-for-sale marketplace.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
There is no simple way to sell a business. But the most prepared farm buildings business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
How to Skillfully Address Buyer Concerns
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood farm buildings business sellers with questions and requests, often to the point of becoming a nuisance. It's completely normal for farm buildings 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.
Handling Unexpected Outcomes
Every business seller dreams of a fast sale and a fat payday. Ultimately, many sellers find that the market is unable to deliver their anticipated outcomes. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your farm buildings business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If you aren't generating interest in the general marketplace, consider approaching companies that sell complementary products or are closely situated in your supply chain.
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