Sell a Business for the Best Price
Selling a Potato Growers Business
In any market, there are sellers and then there are serious sellers. We'll give you the tools you need to be taken seriously when you decide to sell your potato growers business.
In a down economy, many potato growers business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of potato growers businesses that are actually for sale.
Does that mean selling your potato growers business will be a piece of cake? No -- but you might be surprised to learn that the potato growers businesses that are selling these days are finding success though simple, common sense selling strategies.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the potato growers business to gain an objective sense of fair market value.
Tips for Seller Financing
Capital is hard to come by these days. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized potato growers business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. It's common for sellers to finance as much as 70% of the purchase price with a payoff period of four or five years, sometimes in the form of a balloon payment at the end of the repayment period.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your potato growers 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. But since it's important to remain as objective and rational as possible, we also recommend establishing a firm sale strategy and negotiation team to limit the impact of your personal feelings on the sale outcome.
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