Niche Exit Planning Tactics
Selling a Wood and Wood Products Business
Selling a wood and wood products business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Selling a wood and wood products business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
Undaunted by economic conditions, many wood and wood products business sellers are achieving their sale goals through deliberate sale strategies.
Equipment and Inventory Concerns
It's incumbent on buyers to commission their own appraisal of your wood and wood products business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. A pre-listing appraisal also gives you the opportunity to document the condition of your wood and wood products business's assets and possible even make repairs or upgrades to increase the total value of the operation.
Preparing for What's Next
The decision to sell your wood and wood products business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Sale Documents
A basic understanding of legal requirements is foundational for a successful business sale. Despite the confusion that exists among many sellers, the essentials of the sale are described in the Letter of Intent, a seminal document that is created prior to due diligence . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. So after consulting with your broker and attorney, make sure you're comfortable with the terms of the Letter of Intent. If not, everything you do to close the sale of your wood and wood products business may be a waste of time.
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