Niche Exit Planning Strategies
Selling a Dried Fruits Business
At first glance, an unstable economy would seem to be an unfriendly atmosphere for a dried fruits business sale. Don't be deterred by economic uncertainty. There are plenty of reasons why this is the right time to put your dried fruits business on the market.
You need to get a good price for your dried fruits business. To get there, you'll need to set realistic expectations and follow a deliberate selling strategy.
To achieve your goals, you'll need to know the market as well as key business selling techniques. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Preparing for What's Next
The decision to sell your dried fruits business 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.
A good broker can offer several benefits to business sellers. Right out of the gate, brokers know how to help their clients properly prepare their businesses for a sale. Even more, the best brokers have a track of record of discreetly identifying likely buyers and contacting them on your behalf. Typical brokerage rates (a.k.a. success fees) run 10% of the final price - an expense that is usually recouped through a higher sales price and less time on the market.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. It's completely normal for dried fruits business sellers to be asked pointed questions during due diligence. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
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