Advice on Niche Market Exit Planning
Selling a Tar and Tar Products Business
There is a lot of confusion about the best way to sell a tar and tar products business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
The tar and tar products business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your tar and tar products business.
Broker vs. No Broker
When selling a tar and tar products business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your tar and tar products business much less painful. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered tar and tar products business sale.
Selling a Tar & Tar Products Business to an Employee
Although it may seem easier to sell your tar and tar products business to an employee, this approach also has some pitfalls. There are some perks to selling the business in-house. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based tar and tar products business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Moving On
The decision to sell your tar and tar products business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your tar and tar products business attractive to buyers.
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