December 3, 2020  
 
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Selling a Business

 

Selling a Fish and Seafood Retail Business

Although a fish and seafood retail business may not be completely recession-proof, the best companies can survive nearly any storm. 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.
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Although we understand why sellers are hesitant, we're also seeing enough business sales to know that if you want to sell a fish and seafood retail business, you can - even in today's economy. With the right information and strategy, you could be well on your way to a successful sale

Maintaining Objectivity

Objectivity is a rare commodity in a business sale. You have invested yourself in making your fish and seafood retail business the success it is today, but in the eyes of prospective buyers, your operation is only worth fair market value. In our experience, the most successful sales are ones in which the seller has made an intentional effort to remain objective and set realistic expectations. A business broker can be a valuable resource in right-sizing your expectations and preparing you for market realities.

The Best Person to Sell Your Fish & Seafood Retail Business

There are benefits and drawbacks to handling the sale of your fish and seafood retail business on your own. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your fish and seafood retail business in the business-for-sale marketplace. But your knowledge and personal insights about the fish and seafood retail business are also the problem. Nearly all sellers have an inflated sense of their company's value. At a minimum, conduct an independent appraisal of the fish and seafood retail business to gain an objective sense of fair market value.

Finding Fish & Seafood Retail Business Buyers

Buyers of fish and seafood retail businesses run the gamut. Some are seasoned fish and seafood retail business veterans interested in expanding their operation or adding a new location. Others are first-time entrepreneurs with a taste for the small business lifestyle. Avoid pigeon-holing your search to a single buyer category. Although it's helpful to target promotional tactics to likely buyers, allow for some exposure to the broader market. Sellers should also recognize the value of promoting their sale in trusted business networks, carefully balancing the need for confidentiality with the promotional potential of their contact base.

More Exit Planning Articles

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

Marketing a Fish and Seafood Retail Business

What Does a Business Broker Charge?


Conversation Board

Want to continue the discussion about how to sell a fish and seafood retail business? If you have firsthand knowledge about exit planning issues and challenges, we invite you to submit your comments. Questions are also encouraged!


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