Advice on Niche Market Exit Planning
Selling a Tropical Plants Business
No one said selling your business in a depressed economy would be easy. Fortunately, a tropical plants business sale isn't as scary as it seems.
Personal and professional concerns surround the sale of a tropical plants business. In our experience, a common owner concern is how the sale will affect customers and employees.
Undaunted by economic conditions, many tropical plants business sellers are achieving their sale goals through deliberate sale strategies.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your tropical plants business. Concessions can consist of non-cash as well as cash incentives. In fact, many concessions have little or no financial impact, but go a long way toward making the deal more palatable to young entrepreneurs. In the current economy, seller financing is becoming common in tropical plants business sales. If the prospect is inexperienced or lacks credentials in the industry, you can also offer to stay with the business for a specified period of time to help the new owner get on his feet and introduce him to your network of industry contacts.
The Best Person to Sell Your Tropical Plants Business
An unassisted business sale is a double-edged sword. On the one hand, no one knows your business better than you do. When it comes to earnings potential, asset condition, and other considerations, you are the world's leading expert on your company. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the tropical plants business to gain an objective sense of fair market value.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your tropical plants business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
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