November 18, 2019  
 
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Selling a Business

 

Selling a Life Preservers, Rafts, and Floats Business

Unfortunately, many sellers are waiting to list their life preservers, rafts, and floats businesses until the economy fully rebounds. We think that's a mistake because for the right buyers, life preservers, rafts, and floats businesses are a great investment.

You need to get a good price for your life preservers, rafts, and floats business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
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You'll always have an excuse for not putting your business on the market. Selling a life preservers, rafts, and floats business isn't easy, but we believe sellers can achieve their goals in any economic environment.

The Best Person to Sell Your Life Preservers, Rafts, & Floats Business

As the owner, you are both the best and worst person to sell your life preservers, rafts, and floats business. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your life preservers, rafts, and floats business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the life preservers, rafts, and floats business to gain an objective sense of fair market value.

Buyer Concessions

Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Although this scenario frequently plays out around seller financed deals, it's possible to push for a higher sales price or other form of compensation if you agree to mentor the buyer for a specified period of time. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.

Dealing with Your Emotions

Business sellers sometimes struggle to handle the emotions of a sale. You probably have good reasons for selling your life preservers, rafts, and floats business now, but that doesn't make the emotions you will experience any easier. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.

More Exit Planning Articles

Given your interest in exit planning and in life preservers, rafts, and floats businesses, you might find these additional resources to be of interest.

Marketing a Life Preservers, Rafts, and Floats Business

Family Business Exit Plans

Entrepreneurial Exit Strategies

How to Sell a Business


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