Sell a Business Tips
Selling a Syrups Retail Business
Don't believe anyone who tells you it's easy to sell a syrups retail 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.
These days, the small and medium-sized business market is more confusing than ever before. Capital is scarce and many buyers simply can't afford the entry requirements for a syrups retail business.
In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a syrups retail business. We'll tell you what you need to know to achieve a successful sale outcome
Working with Accountants
Accountants come into play at several stages of the sale process. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
How to Identify Prospective Buyers
Whether you know it or not, prospective buyers for your syrups retail business are all around you. In fact, there is a good chance you already know several individuals or companies that might be interested in buying your business for a decent price. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. If possible, steer clear of selling to a competitor if for no other reason than the fact that competitors pay less for syrups retail businesses than other buyers.
Preparing Your Employees
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the syrups retail business on the market. Maintain a positive tone in your conversations and answer your employees questions as completely as you can without jeopardizing the sale.
Share this article
Additional Resources for Entrepreneurs