Niche Market Exit Planning Tips
Selling a Bagel Wholesaler
Most businesses are susceptible to economic conditions and wholesale bagel businesses 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.
It's a fact: Successful business sales take time.
If your exit strategy involves selling a wholesale bagel business these days, business sellers may need to apply a combination of incentives and techniques.
The Best Person to Sell Your Bagel Wholesaler
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your wholesale bagel business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Business owners are subjective and biased about their company's true worth. At a minimum, conduct an independent appraisal of the wholesale bagel business to gain an objective sense of fair market value.
Objectivity is a rare commodity in a business sale. Your estimate of your company's worth is probably skewed by your emotions and your close, personal connection to the business. Although it may be a hard pill to swallow, you need to find a way to introduce objectivity into your sale. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. The questions wholesale bagel business ask during due diligence are designed to alleviate their concerns about the business and should be promptly addressed by the seller. When concerns arise, it's helpful to base your responses on facts and data. If you don't know the answer to a question, there's no shame in admitting ignorance and telling the buyer you'll look into it. If due diligence drags on too long, your broker may need to intervene.
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