Dire economic forecasts have forced many smoothies retail business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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There is no simple way to sell a business. But the most prepared smoothies retail business sellers are achieving fair market value and more for their companies through persistence and the application of sound selling techniques.
Preparing Your Employees
Business sellers walk a fine line when it comes to preparing their employees for a sale. On the one hand, confidentiality is critical for a successful smoothies retail business sale. However, the longer the selling process drags on, the more likely it is that rumors will begin to circulate throughout your workforce. Consider informing your key employees first, followed by the rest of your workforce later in the process. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Sale Preparation Timeframes
Preparing a smoothies retail business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. Next, the business will need to be documented in professional financial statements and manuals that facilitate the ownership transition. Since all of this takes time and effort, a smoothies retail business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
Are You the Right Person to Sell Your Business?
An unassisted business sale is a double-edged sword. Few people know your business as well as you do. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful smoothies retail business sale.
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