December 3, 2020  
 
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Selling a Company

 

Selling a Kennel

Don't believe anyone who tells you it's easy to sell a kennel. 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.

Cutting corners never pays off, especially in the sale of a kennel.
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The economy hasn't squashed the market for kennels. Like always, unprofitable and poorly positioned businesses struggle to find buyers while sellers who have invested time and effort to prepare their sale are being rewarded in the marketplace.

After the Sale

As your kennelsale nears completion, there is a lot of work remaining to be done. There are several details that still need to be addressed. What will the ownership transition look like? Are you prepared to deal with the tax consequences of receiving a significant sum of money in exchange for your business? How will you prepare your employees for your inevitable exit from the business? If there are pending details that still need to ironed out, address them ASAP to ensure a smooth closing and transition.

Preparing for What's Next

The decision to sell your kennel 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.

Equipment and Inventory Concerns

It's incumbent on buyers to commission their own appraisal of your kennel's physical assets. Most sellers, however, conduct a pre-sale appraisal to gain an accurate gauge of asset value prior to negotiations. A pre-sale appraisal is a prerequisite for because it offers insights about your assets' market value before you initiate conversations with prospective buyers. During your appraisal process, you should also note the condition of your assets. Cost-effective repairs can then be made before your list your kennel.

More Exit Planning Articles

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

Marketing a Kennel

Terms of Investment Banking Agreement


Conversation Board

The learning process for selling a kennel is an ongoing journey. Send us your comments and questions, and let's continue the conversation!


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