Sell a Business for the Best Price
Selling a Pet Adoption Business
You've invested time, effort, and creativity into building your pet adoption business. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a pet adoption business sale works.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to pet adoption businesses that exhibit strong financials and potential for future growth.
Leveraging External Resources
At some point, you're going to need help selling your pet adoption business. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Other early hires include the professionals you will need to valuate the business, prepare financial statements and navigate legal considerations. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your pet adoption business, you can avoid painful tax and legal complications both before and after closing.
Why Confidentiality Matters
Confidentiality determines risk in the business-for-sale marketplace. If you are rigorous about maintaining a confidential sale, there is little risk in putting your pet adoption business on the market. Eventually, word will leak out. When that happens, it can damage your standing with customers and vendors. Although it can be difficult, it's important to strike a balance between confidentiality and sale promotion. We recommend consulting a business broker to learn how you can simultaneously identify prospective buyers and maintain a confidential sale environment.
Average Preparation Time
There are no effective shortcuts for selling a pet adoption business. For starters, the financials need to demonstrate a track record of profitability and growth. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a pet adoption business can rarely be ready for the marketplace in less than six months. However, to command the highest price, you'll probably need to spend one to two years preparing and positioning your business for buyers.
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