Sell a Business Tips
Selling a Salt Business
We hear from a lot of business owners who are timid about listing their salt business. Despite the mood of the market, we think there are still opportunities to receive a good price for your salt business. Here's what you need to know . . .
If you plan on selling your salt business quickly, prepare to be disappointed.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a salt business.
Preparing for What's Next
The decision to sell your salt business can't be made without adequate consideration of what will happen after the sale. Although next steps may seem inconsequential, they actually play an important role in shaping the structure of the sale of your salt business. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Legal Considerations
It's obvious that you're going to need to hire an attorney to finalize the sale of your salt business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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 salt business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your salt 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. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
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