Mastering Niche Market Exit Planning
Selling a Nuts Wholesale and Processing Business
Few entrepreneurs relish the idea of selling a business in a struggling economy. Yet nuts wholesale and processing businesses continue to be sold at a brisk pace, outperforming the sales of many other types of businesses.
In any economy, there is a right way and a wrong way to sell a business.
If you're ready to move on, now is the right time to sell your nuts wholesale and processing business.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Many sellers create a negotiation team to minimize the effect of their personal emotions on negotiations. More importantly, this team can perform a reality check on your expectations for the sale.
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 nuts wholesale and processing business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your nuts wholesale and processing business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. If you aren't sure what you need, put negotiations on hold until you gain a clearer understanding of your own deal parameters.
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a nuts wholesale and processing business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The benefit of soliciting outside assistance early is that seemingly small decisions now can have big consequences later. By consulting professionals throughout the sale of your nuts wholesale and processing business, you can avoid painful tax and legal complications both before and after closing.
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