Exit Planning Techniques By Market
Selling a Food Crops and Products Business
Economic uncertainty influences the timing of many food crops and products business sales. But based on what we're seeing in the business-for-sale marketplace, we don't think economic conditions should deter you from putting your food crops and products business on the market.
Selling a food crops and products business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Despite the conventional wisdom, we believe current economic conditions are right for selling a food crops and products business. We'll tell you what you need to know to achieve a successful sale outcome
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. When that happens, it's best to have a frank conversation with your team rather than allowing rumors to circulate through the organization. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Moving On
The decision to sell your food crops and products business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Tips for Working with A Business Broker
Brokerage is a mainstay of the business-for-sale marketplace. It's typical for food crops and products business to rely on brokers to reduce market time and increase the final sales price. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Share this article
Additional Resources for Entrepreneurs