The planers business-for-sale marketplace is a nuanced environment, full of pitfalls for sellers who aren't prepared for its demands.
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In our opinion, that kind of thinking doesn't make sense. In fact, this might be the perfect time to sell a planers business. With the right information and strategy, you could be well on your way to a successful sale
Selling to a Family Member
Selling a business to a family member might sound like the best of both worlds. You get an exit strategy, your planers business stays in the family, and everyone is happy. Yeah, right. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. Although it may seem odd, a sale to a family member can take longer than a sale to a stranger because it may take time to work through family issues prior to closing.
The decision to sell your planers business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Broker vs. No Broker
When selling a planers business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Although brokerage fees can be substantial, the right broker can reduce the amount of time your planers business sits on the market. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Given your interest in exit planning and in planers businesses, you might find these additional resources to be of interest.
If you plan on opening a planers business, these helpul resources may be just what you've been looking for:
If you consider planers businesses to be sales prospects, there's more applicable information for you elsewhere on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our list of exit planning guides below.