November 18, 2019  
 
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Selling a Company

 

Selling a Lobsters Business

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

Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
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Most lobsters businesses are good business opportunities, a fact that is not going unnoticed by today's discerning buyers.

Leveraging Industry Connections

There are a lot of different places to look for lobsters business buyers. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. For more targeted lead generation, consider tapping into your network of industry contacts. 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. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.

Business Assets

It's incumbent on buyers to commission their own appraisal of your lobsters business's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A professional appraisal is a necessity because it gives you the information you need to negotiate a sale price. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your lobsters business.

Current Market Conditions

No one plans to sell a lobsters business in a down economy. Although the economy is gaining steam, recovery is slow and entrepreneurs are holding their cards close to their vests. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your lobsters business as attractive as possible so to buyers right now.

More Exit Planning Articles

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

Marketing a Lobsters Business

Pre-Exit Employee Incentive Programs

What Does a Business Broker Charge?

Why Most Businesses Do Not Have Exit Plans


Conversation Board

Sometimes the best tips on selling a business come from other business owners. If you have any tips or advice on how to sell a lobsters business, we invite you to submit your comments and suggestions.


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