Exit Planning Advice
Selling a Kosher Food Business
A lot can go wrong during the sale of a Kosher food business these days. We'll tell you how to keep your sale and your future plans on track.
Cutting corners never pays off, especially in the sale of a Kosher food business.
Too often Kosher food business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the Kosher food business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling Kosher food businesses.
Selling a Kosher Food Business to an Employee
There are both benefits and drawbacks to selling a Kosher food business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based Kosher food business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your Kosher food business now, but that doesn't make the emotions you will experience any easier. Instead of feeling guilty about your emotions, take the time to process them with a mentor or friend. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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