Exit Planning Tips
Selling a Hawaiian Foods Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet Hawaiian foods businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
You need to get a good price for your Hawaiian foods business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to Hawaiian foods businesses that exhibit strong financials and potential for future growth.
Family Business Sale Tips
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based Hawaiian foods business sale can be more complicated than selling to a stranger. 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. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Preparing Your Hawaiian Foods Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Attractive Hawaiian foods business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your Hawaiian foods business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Handling Unexpected Outcomes
When you made the decision to sell your Hawaiian foods business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your Hawaiian foods business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
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