Exit Planning Techniques By Market
Selling a Flour Business
Don't believe anyone who tells you it's easy to sell a flour business. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.
You won't find any magic formulas for selling a flour business, especially while the market is struggling to overcome the perceptions created by a down economy.
Many business owners don't know that flour businesses are still a hot commodity, to the extent that sellers have properly prepared them for the marketplace.
Team-Based Negotiation Strategies
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your flour business, your business brokers may or may not be willing to conduct negotiations for you. 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.
Leveraging Industry Connections
Today's flour business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. But industry connections can also be a valuable source of leads. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Even though you can expand your prospect base by shouting it from the rooftops, it's probably wise to limit the release of information to the people you trust in the industry.
Advertising Your Sale
Profitable flour business sales incorporate comprehensive advertising plans. But confidentiality issues are a hurdle you'll need to address before you put your flour 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 flour business sales while maintaining the confidentiality that is critical to your business.
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