Smart Exit Planning Strategies for Niche Markets
Selling a Guard Dogs Business
Unfortunately, many sellers are waiting to list their guard dogs businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, guard dogs businesses are a great investment.
The economy isn't the only thing that is uncertain these days. So are guard dogs business buyers, many of whom are waiting to pull the trigger on their next acquisition.
They require careful planning and an intentional strategy that emphasizes your guard dogs business's strengths and meets the needs of the marketplace. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Legal Considerations
There is no way around the requirement to hire professional legal assistance when you sell your guard dogs business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your guard dogs business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
Preparing for What's Next
The decision to sell your guard dogs 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.
Identifying Serious Buyers
Many prospective buyers will have a strong desire to acquire your guard dogs business. The bad news is that they will lack the financial capacity to close the deal. Selling a business is hard enough. You can't afford to waste time on prospects that have no chance of turning their interest into an actual purchase. Good business brokers are adept at separating serious buyers from the rest of the pack. Never provide detailed information about your guard dogs business until the prospect has been qualified as a serious buyer.
Share this article
Additional Resources for Entrepreneurs