Exit Planning Techniques By Market
Selling a Fruit Baskets Business
Unfortunately, many sellers are waiting to list their fruit baskets businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, fruit baskets businesses are a great investment.
Economic data is scary stuff for small business owners. But quarterly data dumps don't impact fruit baskets business sales nearly as much as sale strategy.
Most fruit baskets businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Broker vs. No Broker
When selling a fruit baskets business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your fruit baskets business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Business Valuation
The methods for valuing a fruit baskets business vary according to your business model and circumstances. However, there are generally three valuation methods appraisers use to determine your company's worth. Appraisals based on the asset method gauge value as a factor of the company's real property and non-tangible assets; appraisals based on the income method consider the business's anticipated revenue. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. As a safeguard, consider conducting appraisals using variations of multiple appraisal methods. But regardless of the method that is used, it's always in the seller's best interest to increase revenue and asset values prior to a sale.
Emotional Considerations
The sale of a fruit baskets business can be a rollercoaster of emotions. One minute you'll be elated at the possibility of moving on the next stage of your life and the next minute you'll be nostalgic about the memories of your time at the helm of your business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
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