Exit Planning Advice
Selling a Kosher Meat Market
Don't believe anyone who tells you it's easy to sell a Kosher meat market. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
It takes dedication to sell a Kosher meat market under the best of circumstances. In the current market, you'll need to redouble your efforts and get serious about convincing prospects that your company is a good investment.
Competing against big box stores like Sam's Club and Costco is difficult, but starting a kosher butcher shop and market makes sense in certain neighborhoods.
Too often Kosher meat market owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Broker vs. No Broker
The decision of whether or not to hire a business broker should never be taken lightly. Business brokers typically charge a 10% "success fee" when they sell a business, but they also handle many of the hassles that are associated with selling a Kosher meat market. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered Kosher meat market sale.
Selling a Kosher Meat Market to an Employee
There are both benefits and drawbacks to selling a Kosher meat market 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 meat market sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Before You Sell
There is a lot of work that needs to be done before you're ready to sell your Kosher meat market. The first item on your checklist should be a reality check -- if you plan to sell your business for top dollar in just a few short months, you need to adjust your expectations%However, your first priority should be to set realistic expectations for the selling process and its eventual outcome. Armed with a realistic timeframe and asking price, you can begin to consult with your broker about the best way to approach likely buyers.
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