Exit Planning Advice
Selling a Kosher Catering Business
Although a Kosher catering business may not be completely recession-proof, the best companies can survive nearly any storm. To increase your company's sale price, you'll need to perform adequate preparations, positioning it to the catch the eye of profit-minded buyers.
If you listen to many entrepreneurs, there never seems to be a good time to put a small business on the market.
Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your Kosher catering business.
When Is the Right Time to Sell?
Most business owners know when it's time to exit their company. Some experts are telling Kosher catering business sellers to put their plans on hold until the economy fully rebounds. We aren't nearly as pessimistic about the Kosher catering business marketplace. The inventory of what we consider to be quality Kosher catering businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
When to End Negotiations
The negotiation stage of a Kosher catering business can seem never-ending. Yet eventually many negotiations reach a stage where further discussion is pointless. In a Kosher catering business sale, a stalled negotiation can be an indication that the deal is dead. At this point in the process, an awareness of negotiation parameters really pays off. If the buyer is unwilling to accept your minimum demands, it's time to end negotiations and move on to the next prospect.
As your Kosher catering businesssale nears completion, there is a lot of work remaining to be done. Handing over the keys and saying goodbye to your employees is easier said than done, and requires thoughtful consideration prior to closing. Ideally, these and other post-sale details should be addressed early on. But if you haven't dealt with them yet, it's important to have a frank conversation with the buyer, your broker and other professionals as soon as possible.
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