Advice on Niche Market Exit Planning
Selling a Tree Fruits Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet tree fruits businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
Selling a tree fruits business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
More than a few tree fruits business owners fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Signs You're in Over Your Head
Many tree fruits business are tempted to save brokerage fees by selling their businesses on their own. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Likewise, if buyers seem to express interest but quickly exit when you quote the asking price, it's a sign that your tree fruits business is priced out of the market. If that occurs, it's time to bring in the professionals to get your sale back on track.
Preparing Your Tree Fruits Business for Sale
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Profitable tree fruits business sales opportunities leverage a long-term strategy to increase the value of the business to buyers. Even though it may take years to adequately position your tree fruits business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
Equipment and Inventory Concerns
Buyers typically perform an independent appraisal of your tree fruits business's physical assets. Your appraisal should occur before you put your business on the market. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. When you conduct your appraisal of your assets, note their condition and include it in the information packet you prepare for prospective buyers.
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