Sell a Business for the Best Price
Selling a Pocket Knives Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a pocket knives business sale. At Gaebler, we think it's a great time to sell a pocket knives business. Here's why . . ..
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a pocket knives business.
Does that mean selling your pocket knives business will be a piece of cake? No -- but you might be surprised to learn that the pocket knives businesses that are selling these days are finding success though simple, common sense selling strategies.
Handling Unexpected Outcomes
When you made the decision to sell your pocket knives business, you had a specific set of outcomes in mind. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your pocket knives business. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.
Preparing Family Members
Since your business was a family affair, your family members should also be involved in its sale Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. To keep the family intact, the sale of a pocket knives business has to include ample communication and shared decision-making.
Turning the Tables: Buyer Concessions
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. For example, if the buyer needs seller financing, you can leverage a five-year loan to push for a higher sales price. Although you won't see all of the proceeds upfront, you'll earn interest on the balance and realize a higher price than you would in an all cash deal. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
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