Profitable Niche Market Exit Plans
Selling an Oyster Bars Business
Is the economy still a little shaky for a business sale? Sure it is. Yet oyster bars businesses haven't heard the news and are reporting steady action on the business-for-sale market.
Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
Many business owners don't know that oyster bars businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Post-Sale Details
Due diligence has ended and you're ready to close on the sale of your oyster bars business. All that stands between you and the sale proceeds is a few signatures, right? Not so fast. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
Understanding Market Timing
Now may be the best time to sell an oyster bars business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on oyster bars businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Team-Based Negotiation Strategies
It's not unusual for oyster bars business sellers to feel overwhelmed when they negotiate the sale of their business. 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.
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