Sell a Business for the Best Price
Selling a Poultry Processing Business
A good business is about more than dollars and sense. To make your poultry processing business what it is today, you've had to fully invest yourself in its success. 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.
The process of selling a poultry processing business can be one of the most stressful experiences of your entrepreneurial career.
Most poultry processing businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.
Average Preparation Time
There are no effective shortcuts for selling a poultry processing business. 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. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey poultry processing business operation. At a minimum, plan on spending six months preparing your poultry processing business for the marketplace. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your poultry processing business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. It's helpful to introduce your attorney to your broker to facilitate a smooth sale and a productive working relationship.
Negotiation Teams
Even if you hire a business broker to facilitate the sale of your poultry processing business, it's likely that you will be the front line negotiator. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
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