September 26, 2020  
 
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Selling a Company

 

Selling a Charcoal Business

Most businesses are susceptible to economic conditions and charcoal 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.

Selling a charcoal business? You'll need to be prepared to address a variety of challenges that are common in the business-for-sale marketplace.
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To sell a charcoal business now, sellers need to make a strong case for buyers to purchase at or near the asking price.

Family Business Sale Tips

The idea of passing a business along to a family member sounds idyllic to many business owners. in reality, a family-based charcoal business sale can be more complicated than selling to a stranger. If it isn't handled properly, a family sale can quickly create irreparable divisions within your family. Whether you offer the family member special concessions or not, either the buyer or other family members may take offense. If possible, discuss a long-term, generational transition with the entire family and seek the advice of a professional consultant.

Post-Sale Details

As your charcoal businesssale nears completion, there is a lot of work remaining to be done. The transition to the new owner, the distribution of sale proceeds and other issues can weigh heavily on sellers. You, your employees and the buyer all have a stake in making sure the sale ends as smoothly as possible. If possible, work with the buyer to create a transition strategy that minimizes the impact on the business and your workforce.

Emotional Considerations

It's impossible to predict the emotional highs and lows you will experience during the sale of your charcoal business. Given your personal investment, you may also experience disappointment in the market's assessment of your company's value. Although it isn't easy, you can mitigate the emotional impact of a charcoal business sale by setting realistic expectations before you list your business.

More Exit Planning Articles

Given your interest in exit planning and in charcoal businesses, you might find these additional resources to be of interest.

Marketing a Charcoal Business

Why Most Businesses Do Not Have Exit Plans

Entrepreneurial Exit Strategies

What Does a Business Broker Charge?


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