Exit Planning Techniques By Market

Selling a Farm

Don't believe anyone who tells you it's easy to sell a farm. A lot of things need to happen before you can successfully exit your business. But with a few tips, you can keep your shirt and your sanity in the sale of your business.

Business buyers face their own set of frustrations and complications. Although there are plenty of entrepreneurs who want to buy a farm, capital restrictions are holding them back.

Starting a Farm

To sell a farm these days, business sellers may need to apply a combination of incentives and techniques.

Current Market Conditions

Today's farm sellers face an intimidating economic landscape. Entrepreneurs and investors still exhibit healthy skepticism, despite initial indication that recovery has begun. However, many business sellers don't realize that a full economic rebound can have devastating consequences, particularly if sellers who have waited to list their businesses suddenly create a glut in the business-for-sale marketplace. So what's our point? The economy isn't the most important factor in the sale of your business. Instead, you should be focusing on making your farm as attractive as possible so to buyers right now.

How to Choose a Business Broker

A good business broker is your best bet for a fast and profitable business sale. In the farm industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling farms.

Negotiation Teams

Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your farm, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. A negotiation team comprised of trusted advisors and senior business leaders is essential in helping you devise a winning negotiation strategy. More importantly, a negotiation team can serve as a sounding board -- an objective presence that prohibits your personal emotions from clouding your judgment or sabotaging your efforts to negotiate a successful deal.

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