Sell a Business for the Best Price
Selling a Picnic Equipment and Supplies Business
We hear it all the time: 'This economy is a hostile environment for a business sale.' However, picnic equipment and supplies businesses continue to sell at a brisk pace, regardless of the economy.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Although it takes hard work and dedication, if it's time to exit your picnic equipment and supplies business there is a good chance you can sell it for a good price -- even in today's market.
Negotiation 101
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a picnic equipment and supplies business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your picnic equipment and supplies business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
Working with Appraisers
An experienced appraiser is part and parcel of a successful picnic equipment and supplies business sale. By hiring an appraiser to conduct a thorough appraisal of tangible and non-tangible assets prior to listing, you get a measure of the true worth of your business. Although the appraised value of your business may not be the same as the sales price, you gain valuable insight that can be used to your advantage during negotiations. Following the appraisal, you may choose to delay your sale until you can increase the value of assets and revenue.
Laying the Groundwork
In addition to improving profitability and market share, planning the sale of your business will require you to think about how you will present your company to buyers. Professional business brokers understand buyers and know how to properly communicate a picnic equipment and supplies business to the marketplace. At a minimum, you'll want to position your business to receive the highest possible sale price, prepare a packet for prospective buyers and perform an initial appraisal before you put your picnic equipment and supplies business on the market.
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