Niche Exit Planning Strategies
Selling a Dry Ice Business
You've heard the naysayers - now isn't the time to sell a dry ice business. But what they don't know is that many entrepreneurs see dry ice businesses as a smart business investment.
Most business sellers are interested in disposing of their businesses as quickly as possible. But that's not how a dry ice business sale works.
The economy hasn't squashed the market for dry ice businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
Selling to a Family Member
There is no easy way to sell a dry ice business, not even to a family member. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Leveraging External Resources
Rarely, if ever, do owners sell a dry ice business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Advertising Your Sale
The best dry ice business sales incorporate comprehensive advertising plans. But confidentiality issues are a hurdle you'll need to address before you put your dry ice business on the market. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing dry ice business sales while maintaining the confidentiality that is critical to your business.
Share this article
Additional Resources for Entrepreneurs