Exit Planning Tips
Selling a Handles Business
Don't believe anyone who tells you it's easy to sell a handles business. A lot of things need to happen before you can successfully exit your business. We'll tell you how to thrive in the middle of it and get top dollar for your company.
If you plan on selling your handles business quickly, prepare to be disappointed.
But sooner or later, all good things must come to an end. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your handles business.
Advertising Your Sale
The best handles business sales listings are intentionally promoted to the right prospects. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. There are multiple ways to promote a handles business sale, many of which require the assistance of a professional business broker.
When to End Negotiations
The negotiation stage of a handles business can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. A lull in negotiations may be part of the buyer's strategy. Then again, it may be a sign that the search for common ground is a lost cause. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Legal Considerations
It pays to invest in first-rate legal counsel when you sell a handles business. Tackling the legal nuances and tax ramifications of a sale without a first-rate business lawyer is an invitation for disaster. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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