Exit Planning Advice By Market
Selling an Animal Services Business
A lot can go wrong during the sale of an animal services business these days. More than ever before, it's important for sellers to know the tactics and techniques that are being used to maximize sales price and achieve desired sale outcomes.
You survived all the ups and downs of owning a business. Next, you'll need to prepare yourself to address the rigors of selling an animal services business.
Too often animal services business sellers fail to receive fair market value for their businesses. With the right strategy, your sale doesn't have to end that way.
Dealing with Your Emotions
Coping with the emotions of a business sale can be difficult, even under the best of circumstances. You probably have good reasons for selling your animal services 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.
Should I Hire a Business Broker?
When selling an animal services business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your animal services business sits on the market. If you're on the fence, do your research before you make a final decision. BizBuySell.com and other websites offer detailed information about brokers and the process of performing a brokered animal services business sale.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions animal services business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. To protect yourself, don't offer an answer until you are sure the information you are providing is 100% accurate. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
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