Niche Exit Planning Tactics
Selling a Wholesale Ice Business
Selling a wholesale ice business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a wholesale ice business.
Sale Costs
In a wholesale ice business sale, pricing is based on a number of factors, including the costs incurred during the sale. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Selling to a Family Member
The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based wholesale ice business sale can be more complicated than selling to a stranger. In fact, selling your wholesale ice business to a family member can quickly become a no-win proposition. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
Pre-Sale Checklist
There is a lot of work that needs to be done before you're ready to sell your wholesale ice business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
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