Advice on Niche Market Exit Planning
Selling a Tropical Fish Wholesale Business
Is the economy still a little shaky for a business sale? Sure it is. Yet tropical fish wholesale businesses haven't heard the news and are reporting steady action on the business-for-sale market.
You need to get a good price for your tropical fish wholesale business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
For sellers who are willing to perform adequate sale preparation, the numbers make tropical fish wholesale businesses a solid investment for qualified buyers in the business-for-sale marketplace.
Identifying Serious Buyers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your tropical fish wholesale business. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your tropical fish wholesale business during their initial inquires. Avoid releasing details about your tropical fish wholesale business until you have established that they have the financial capacity to make a legitimate offer.
When Is the Right Time to Sell?
When is it the right time to sell your tropical fish wholesale business? If you're asking the question, now may be the time to put your business on the market. Opinions are mixed and some consultants are advising tropical fish wholesale business sellers (or would-be sellers) to take a wait and see approach. But despite the negativity that exists in some sectors, if you have a desire to sell your tropical fish wholesale business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality tropical fish wholesale businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
Legal Considerations
It pays to invest in first-rate legal counsel when you sell a tropical fish wholesale business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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