Sell a Business Tips
Selling a Specialty Bags Business
Selling a specialty bags business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Today's specialty bags business buyers tend to be more skeptical than most about the nation's economic outlook.
But at Gaebler, we see specialty bags businesses still selling at a brisk pace. Not surprisingly, buyers expect to receive value for their dollars - and that means sellers need to demonstrate that their businesses are capable of delivering anticipated returns.
Legal Concerns
In a specialty bags business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
Setting the Stage
A successful specialty bags business sale begins with careful planning. Although you are convinced your business has value in the marketplace, the planning process establishes a framework for communicating its value to prospective buyers. A first-rate business broker can give your business an edge by facilitating the preparation process and orienting your presentation toward today's buyers. Specifically, brokers can advise you about the preparation of financial statements and other documents buyers expect to see in a premium specialty bags business opportunity.
Selling a Specialty Bags Business to an Employee
There are both benefits and drawbacks to selling a specialty bags business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. The time and expense of locating the right buyer will be nonexistent and you won't have to spend weeks showing the buyer every square inch of the company. However, some employees feel they are entitled to special treatment and pricing, especially if they have played a key role in the company's success. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your specialty bags business, a sale to an employee is probably not a possibility.
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