Niche Market Exit Planning Tips
Selling a Bean Elevators Business
Most businesses are susceptible to economic conditions and bean elevators 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.
Waiting for better economic times to sell your company? That's a common anthem in the small business community.
Too often bean elevators business owners cave under the pressure and settle for a lower sales price than they should. With the right strategy, your sale doesn't have to end that way.
Negotiation Exit Strategy
The negotiation stage of a bean elevators business can seem never-ending. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a bean elevators business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
Working with a Professional Accountant
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. 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.
Timing the Market
Now may be the best time to sell a bean elevators business. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on bean elevators businesses. When the economy recovers there will be more bean elevators business buyers on the market, but higher interest rates could present challenges. At Gaebler, we recognize the value of timing the sale of your bean elevators business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
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