Niche Exit Planning Tactics
Selling a Warehouse Distributors Business
With the economy limping along, many warehouse distributors business owners are hesitant to put their businesses on the market. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your warehouse distributors business on the market.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling a warehouse distributors business.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a warehouse distributors business.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Negotiation Teams
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your warehouse distributors business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.
Pre-Sale Checklist
The upfront time you investment in the sale of your warehouse distributors business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
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