Smart Exit Planning Strategies for Niche Markets
Selling a Gift Baskets and Packs Wholesale and Manufacturers Business
Selling a gift baskets and packs wholesale and manufacturers business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
You won't find any magic formulas for selling a gift baskets and packs wholesale and manufacturers business, especially while the market is struggling to overcome the perceptions created by a down economy.
There is no simple way to sell a business. But the most prepared gift baskets and packs wholesale and manufacturers business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your gift baskets and packs wholesale and manufacturers business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. Although some gift baskets and packs wholesale and manufacturers business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for gift baskets and packs wholesale and manufacturers businesses than other buyers.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your gift baskets and packs wholesale and manufacturers business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Working with Accountants
Accountants lay the financial groundwork for a 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. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
Share this article
Additional Resources for Entrepreneurs