November 13, 2019  
 
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Selling a Company

 

Selling a Livestock Equipment and Supplies Business

The sale of your livestock equipment and supplies business is the culmination of this stage of your entrepreneurial journey. Although most business owners expect a storybook ending, it will take the careful application of sound selling principles to bring your sale to a successful conclusion.

The buzz in the marketplace is that now isn't the right time to sell a livestock equipment and supplies business. Consequently, sellers are holding their businesses off the market until they are sure the market will sustain their asking prices.
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The business-for-sale market is extremely dynamic. That's why we think it's important for livestock equipment and supplies business owners to know that it's possible to sell a business in any economy. To improve sale outcomes, you will simply need to tailor your livestock equipment and supplies business to today's buyers.

Finding Prospects

Many sellers don't realize how many prospective buyers there are for their businesses. We frequently see qualified buyers emerge from the seller's network of business and personal acquaintances. In other cases, sellers take a proactive approach to finding likely buyers and contacting them directly. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.

When the Sale Goes Off-Course

It's not uncommon for the owners of small livestock equipment and supplies businesses to adopt a go-it-alone sale strategy. Plenty of owners sell their livestock equipment and supplies businesses unassisted. Although there are exceptions, solo sales typically take longer and are less productive than brokered sales. As a rule, no business should sit on the market for more than six months without attracting the interest of at least a handful of qualified buyers. Lack of buyer enthusiasm or persistence indicates that something is wrong. The remedy is professional brokerage or a consultation with more experienced sellers.

Negotiation 101

As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in a livestock equipment and supplies business negotiation. But before you can negotiate effectively, you need to have a clear sense of your minimum sale requirements. If you lack clarity about your goals, you're guaranteed to fall short of achieving of them. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing a Livestock Equipment and Supplies Business

How to Sell a Business

How Much Is My Business Worth?

How To Choose An Investment Banker


Conversation Board

Want to continue the discussion about how to sell a livestock equipment and supplies business? If you have firsthand knowledge about exit planning issues and challenges, we invite you to submit your comments. Questions are also encouraged!


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