November 11, 2019  
 
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Selling a Company

 

Selling an Animal Shelter

Most businesses are susceptible to economic conditions and animal shelters are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.

Business sellers are notorious for second-guessing themselves about the right time to put their companies up for sale.
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Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a animal shelter sale. To improve sale outcomes, you will simply need to tailor your animal shelter to today's buyers.

Handling Unexpected Outcomes

Every business seller dreams of a fast sale and a fat payday. However, no one told the marketplace about your expectations. The outcome of your sale will be determined by market forces - not by your personal circumstances or desires. Despite your best efforts, you need to prepare yourself for the possibility of receiving less than you expected from the sale of your animal shelter. If buyers don't seem to be willing to meet your expectations, consult with your broker to modify your strategy and market approach.

Identifying Serious Buyers

Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your animal shelter during their initial inquires. Avoid releasing details about your animal shelter until you have established that they have the financial capacity to make a legitimate offer.

Preparing for What's Next

The decision to sell your animal shelter can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. 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.

More Exit Planning Articles

Ready to learn more? You may find these additional resources to be of interest.

Marketing an Animal Shelter

How Much Is My Business Worth?

Pre-Exit Employee Incentive Programs

How to Sell a Business


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