Sell a Business Tips
Selling a Stanchions Business
Selling a stanchions business doesn't happen overnight. It takes a deliberate process to get top dollar for your company.
Despite your best intentions, great business sales don't happen overnight.
Qualified buyers are constantly looking for attractive stanchions businesses. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. It's completely normal for stanchions business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. However, at some point due diligence has to end and the sale must proceed to closing. Consult with your broker to determine when it's time to draw the line and push the buyer toward a final commitment.
Working with a Professional Accountant
Professional accountants lend credibility to the financial preparation of a stanchions business sale. Before your stanchions business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Maintaining Objectivity
Objectivity is a rare commodity in a business sale. You have invested yourself in making your stanchions business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. Consider recruiting a team of objective professionals to help manage your expectations as you prepare and negotiate the sale of your business.
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