Selling a stork rental business isn't as simple as listing a power tool on eBay. These days, the business-for-sale market is a hostile place for inexperienced and uninformed sellers.
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Undaunted by economic conditions, many stork rental business sellers are achieving their sale goals through deliberate sale strategies.
There is a lot of work that needs to be done before you're ready to sell your stork rental business. Perhaps the most important pre-sale consideration is to right-size your expectations to the realities of the market. After you have consulted with a business broker to right size your expectations, you'll need to add several items to your checklist, including financial statement preparation, pre-sale appraisals, financial planning, market positioning and other tasks designed to communicate value to prospective buyers.
Tapping Into Business Networks
Today's stork rental business buyers can be found in a variety of locations. Online business-for-sale databases like BizBuySell.com offer convenient resources for sellers interested in promoting their business to a broad prospect base. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Use good sense in restricting the flow of information within the industry and focusing your efforts toward trusted industry allies.
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 stork rental business stays in the family, and everyone is happy. Yeah, right. In fact, selling your stork rental business to a family member can quickly become a no-win proposition. Unless you have agreed to treat the family member like any other buyer, the risk of hard feelings among other potential heirs or family members is high. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.
Given your interest in exit planning and in stork rental businesses, you might find these additional resources to be of interest.
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