Exit Planning Techniques By Market
Selling a Funeral Equipment and Supplies Business
Unfortunately, many sellers are waiting to list their funeral equipment and supplies businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, funeral equipment and supplies businesses are a great investment.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
Does that mean selling your funeral equipment and supplies business will be a piece of cake? No -- but you might be surprised to learn that the funeral equipment and supplies businesses that are selling these days are finding success though simple, common sense selling strategies.
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your funeral equipment and supplies business stays in the family, and everyone is happy. Yeah, right. Often, a sale to a family member creates fractures within the family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. The best advice: if a family sale is a possibility, it needs to be handled objectively, with ample input from third-party advisors.
Advertising Your Sale
Successful funeral equipment and supplies business sales incorporate comprehensive advertising plans. But confidentiality issues are a hurdle you'll need to address before you put your funeral equipment and supplies business on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing funeral equipment and supplies business sales while maintaining the confidentiality that is critical to your business.
Post-Sale Details
As your funeral equipment and supplies businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. 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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