Optimizing Business Exits
Selling a Ranch Equipment and Supplies Business
Does the economy have you down? For exiting owners, the idea of listing their company now can be terrifying. Although it's going to take some work, there is a good chance you can still sell your company at or even above fair market value.
We hear it all the time: "I'm waiting until the economy recovers to list my business."
Too often ranch equipment and supplies business owners sell for a price that is well below market value. With the right strategy, your sale doesn't have to end that way.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. Never provide detailed information about your ranch equipment and supplies business until the prospect has been qualified as a serious buyer.
Handling Unexpected Outcomes
When you made the decision to sell your ranch equipment and supplies 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 ranch equipment and supplies 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 for What's Next
What will happen if your ranch equipment and supplies business is a success? Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your ranch equipment and supplies business. We frequently encounter business sellers who haven't thought enough about their futures to know whether certain concessions (e.g seller financing) are a real possibility. As a result, they make bad decisions during the sale and experience less-than-optimal outcomes.
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