Waiting for better economic times to sell your company? That's a common anthem in the small business community.
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There are still plenty of lottery tickets business buyers looking for opportunities that present well in the marketplace.
What to Expect in a Lottery Tickets Business Sale
Prepare yourself to feel a broad range of emotions when you sell a lottery tickets business. From hopefulness to remorse, it's all part of exiting of your company. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Accurate expectations, a solid strategy and a strong support system can be valuable resources for coping with the personal impact of the sale.
Tips for Working with A Business Broker
Business brokers are professional business sellers. Brokers routinely work with lottery tickets business owners to achieve desired outcomes and deliver a successful sale as quickly as possible. However, your broker will still expect you to materially participate in the sale of your business. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Selling a Lottery Tickets Business to an Employee
There are both benefits and drawbacks to selling a lottery tickets business to an employee. A faithful employee may have the motivation and ability to continue to operate the business. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Seller financing is one way to get around the capital deficit of an employee-based lottery tickets business sale, as long as you are willing to vet the employee's credit worthiness the same as any other buyer.
Given your interest in exit planning and in lottery tickets businesses, you might find these additional resources to be of interest.
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