Exit Planning Tips
Selling a Honey Business
Market perceptions play a role in your ability to sell a honey business. Yet great values are always received well in the business-for-sale marketplace. All it takes is a strategy to identify solid prospects and convert them to buyers.
Personal and professional concerns surround the sale of a honey business. In our experience, a common owner concern is how the sale will affect customers and employees.
For sellers who are willing to perform adequate sale preparation, the numbers make honey businesses a solid investment for qualified buyers in the business-for-sale marketplace.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. It's completely normal for honey business sellers to be asked pointed questions during due diligence. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. If due diligence drags on too long, your broker may need to intervene.
Average Timeframes
Hoping for a quick honey business sale? You may be disappointed. Unfortunately, there are no hard and fast rules about the length of time your business will be on the market. Pricing plays a role in sale length, but there are no guarantees that a fairly priced business will sell quickly. Before you can list your honey business, you'll need to invest as much as a year in preparing it for prospective buyers. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
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.
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