Exit Planning Techniques By Market
Selling a Feeders Business
Don't believe anyone who tells you it's easy to sell a feeders business. A lot of things need to happen before you can successfully exit your business. Good advice can be hard to come by, so we've put together a few proven suggestions to help you see your sale through to a profitable conclusion.
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 feeders business.
To sell a feeders business in this environment, you need to apply the right combination of preparation, strategy and common sense.
Working with Accountants
Professional accountants lend credibility to the financial preparation of a feeders business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Be prepared to experience everything from elation to remorse during the sale of your business. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Finding Feeders Business Buyers
Qualified feeders business buyers come from a range of sources and backgrounds. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.
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