Exit Planning Tips
Selling a Horseshoers Business
Selling a horseshoers business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
In a down economy, many horseshoers business sellers wait to list their businesses until they see signs that the economy has rebounded, making it difficult to accurately evaluate the number of horseshoers businesses that are actually for sale.
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a horseshoers business.
Pre-Sale Checklist
The upfront time you investment in the sale of your horseshoers business will pay big dividends at closing. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. Once your expectations are in the ballpark, you can move on to making your business presentable to prospective buyers.
How to Skillfully Address Buyer Concerns
Business sellers sometimes struggle to maintain a positive attitude when dealing with buyers. The questions horseshoers business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. If due diligence drags on too long, your broker may need to intervene.
Sale Costs
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your horseshoers business. Although they can significantly increase the final sale price, brokers typically receive a 10% commission. Professional consultations can also represent a significant expense during the course of a horseshoers business sale. Likewise, you'll need to consider how much it will cost to promote the sale as well as the lost time it will take for you and your team to navigate the sale process.
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