Sell a Business Tips
Selling a Sheep and Goats Business
Don't believe anyone who tells you it's easy to sell a sheep and goats business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
Business-for-sale markets are less dependent on economic conditions than most sellers think they are.
If your exit strategy involves selling a sheep and goats business in this environment, you need to apply the right combination of preparation, strategy and common sense.
After the Sale
Due diligence has ended and you're ready to close on the sale of your sheep and goats business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. Be prepared to experience everything from elation to remorse during the sale of your business. We advise sellers to discuss their feelings with family members and close friends before, during and after the sale. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Leveraging Seller Concessions
It's becoming more difficult to sell a sheep and goats business without considering seller concessions. The most common seller concession is seller financing. Capital is scarce, causing new entrepreneurs to rely on sellers to finance at least part of the purchase price. If you are unwilling or unable to offer financing, be prepared to offer other types of concessions to close the deal.
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