Sell a Business for the Best Price
Selling a Parachutes Business
Planning and execution can dramatically influence the price you receive for your parachutes business.
Business sellers sometimes face a long, hard struggle to get fair market value for their companies. But with the adequate preparation, your parachutes business can attract buyers who recognize its potential.
Qualified buyers are constantly looking for attractive parachutes businesses. And the ones that are commanding the highest price tags are the ones with sellers who are committed to the sale process.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the parachutes business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
After the Sale
As your parachutes businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
The Emotions of a Business Sale
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. You probably have good reasons for selling your parachutes business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. However, when it comes to negotiating a successful deal, there is no room for your personal emotions. To keep the sale on track, you'll need to seek the advice of a broker or another objective third-party counselor.
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