Exit Planning Techniques By Market
Selling a Feathers and Feather Goods Business
Selling a feathers and feather goods business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
A business sale is always a sophisticated transaction and if you aren't prepared for it, your feathers and feather goods business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
Why Confidentiality Matters
Highly publicized feathers and feather goods business sales are risky feathers and feather goods businesssales. A low-key selling strategy is a low risk activity because you can control who does (and doesn't) know that your business is on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Post-Sale Details
As your feathers and feather goods businesssale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
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