When the economy recovers, we expect to see a sudden influx of fishing bait wholesale and manufacturers businesses in the business-for-sale marketplace. Although these companies have been for sale, their owners have resisted listing them until a better economy materializes.
(article continues below)
Despite the conventional wisdom, we believe current economic conditions are right for selling a fishing bait wholesale and manufacturers business. Here's how to do it . . .
Benefits of Third-Party Assistance
Rarely, if ever, do owners sell a fishing bait wholesale and manufacturers business without outside assistance. Brokers can be an important resource for your sale, especially if you are unfamiliar with the business-for-sale marketplace. Additionally, you may want to hire professionals for legal, valuation and other functions before you put your business on the market. The early recruitment of external resources reduces your risk and results in a more predictable final outcome.
Preparing for What's Next
The decision to sell your fishing bait wholesale and manufacturers business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. 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.
Capital is hard to come by these days. Financial institutions have tightened up their lending policies, making it difficult for inexperienced and undercapitalized entrepreneurs to buy fishing bait wholesale and manufacturers businesses. As a result, buyers expect sellers to finance a significant portion of the sale. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Given your interest in exit planning and in fishing bait wholesale and manufacturers businesses, you might find these additional resources to be of interest.
If starting a fishing bait wholesale and manufacturers business is on your agenda, these guides will help you get started:
If you consider fishing bait wholesale and manufacturers businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.