Sell a Business for the Best Price
Selling a Pet Burial Supplies Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet pet burial supplies businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
You'll always have an excuse for not putting your business on the market. Selling a pet burial supplies business isn't easy, but we believe sellers can achieve their goals in any economic environment.
Average Preparation Time
Preparing a pet burial supplies business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. 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 burial supplies business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Preparing Your Employees
Business sellers face a dilemma when it comes to their employees. 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 pet burial supplies 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.
Signs You're in Over Your Head
It's not uncommon for the owners of small pet burial supplies businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their pet burial supplies businesses unassisted. But for every successful unassisted sale, several other pet burial supplies businesses sell below market value or languish on the market for years without attracting the interest of qualified buyers. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. Hire a broker and conduct a professional appraisal ASAP.
Share this article
Additional Resources for Entrepreneurs