Advice on Niche Market Exit Planning
Selling a Temperature Controlled Storage Business
Business sellers have diverse personal and professional goals for the sale of their companies. But no matter what you expect from the sale of your temperature controlled storage business, it's in your best interest to maximize the sales price through the application of proven sales techniques.
The decision to sell a temperature controlled storage business is never easy. In addition to the personal enjoyment you received from the business, you probably have concerns about what will happen to the people who made your temperature controlled storage business a success.
To sell a temperature controlled storage business in this environment, sellers need to make a strong case for buyers to purchase at or near the asking price.
Finding Prospects
Many sellers don't realize how many prospective buyers there are for their businesses. 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. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the temperature controlled storage business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling temperature controlled storage businesses.
Workforce Concerns
Business sellers face a dilemma when it comes to their employees. You're concerned about confidentiality, and rightfully so. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. 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 temperature controlled storage 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.
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