Niche Market Exit Planning Tips
Selling a Birds and Supplies Business
We hear from a lot of business owners who are timid about listing their birds and supplies business. Despite the mood of the market, we think there are still opportunities to receive a good price for your birds and supplies business. Here's what you need to know . . .
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 birds and supplies business.
Eventually, it will the time will come to exit your business. And when that day arrives, you need to know how to sell your birds and supplies business in a way that achieves positive outcomes for you and the business.
The Best Person to Sell Your Birds & Supplies Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your birds and supplies business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. Business brokers and other third-party consultants bring objectivity to the sale process and give you much-needed insight about buyers' mindsets.
Sweetening the Deal
Like it or not, prospective buyers are going to ask you to make certain concessions in the sale of your birds and supplies business. But don't limit your view of concessions to financial incentives. When you've reached your limit on price, consider offering non-cash concessions to encourage a commitment from the buyer. If you aren't familiar with typical birds and supplies business concessions, consult with a professional to learn how you can build incentives into your deal.
Sale Preparations for Your Birds & Supplies Business
First-time business sellers sometimes don't realize that the success or failure of their sale is determined before it hits the market. Successful birds and supplies business listings are the culmination of a preparation process that began months or even years ahead of time. Even though it may take years to adequately position your birds and supplies business, the amount of preparation you perform will have direct correlation on asking and sale prices. Additionally, you'll need time to compile financials and other information that buyers will expect to receive.
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