Exit Planning Techniques By Market
Selling a Feed Consultants Business
There is a lot of confusion about the best way to sell a feed consultants business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Success is a factor of preparation, execution and a keen eye for the market. Since your future goals depend on the outcome of your sale, you'll need to have your head in the game from Day One.
Sale Preparation Timeframes
Preparing a feed consultants business sale takes time. 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. Unless you have already started planning for your feed consultants business sale, it's going to take at least six months to prepare your business. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Dealing with Buyers
It's a common scenario: in an effort to perform a thorough due diligence process, buyers flood feed consultants business sellers with questions and requests, often to the point of becoming a nuisance. The questions feed consultants business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
Legal Concerns
In a feed consultants business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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