Business Exit Planning
Selling a Meats Business
Your meats business is a tangible reminder of the passion and dedication you've invested in your entrepreneurial career. But the hard work isn't done yet. Before you can make a graceful exit, you will have to invest yourself in your business sale.
The process of selling a meats business can be one of the most stressful experiences of your entrepreneurial career.
There are many factors involved with the decision to sell a business. That's why we think it's important for meats business owners to know that it's possible to sell a business in any economy. You just need to know your buyers and structure the deal accordingly.
Preparing Your Meats Business for Sale
The outcome of a business sale is largely determined prior to a market listing. Profitable meats business sales begin with a comprehensive strategy that incorporates planning, preparation and market positioning. Even though it may take years to adequately position your meats business, the amount of preparation you perform will have direct correlation on asking and sale prices. But your efforts to improve your company's position and profitability will only be effective if you invest similar effort into the preparation of accurate financial statements for buyers.
The Case for Confidentiality
Highly publicized meats business sales are risky meats businesssales. If you are rigorous about maintaining a confidential sale, there is little risk in putting your meats business on the market. When and if your sale becomes public knowledge, competitors can use that information to weaken your position in the marketplace. Successful sales walk a fine line between total confidentiality and aggressive promotion. Brokers and consultants can mitigate the risk by implementing confidential sale techniques.
Hiring an Attorney
It's obvious that you're going to need to hire an attorney to finalize the sale of your meats business. A good lawyer serves a variety of functions during the process. In addition to reviewing the letter of intent, sales contract, and other documents, your attorney should be capable of advising you about due diligence and the tax consequences of the sale. We recommend hiring an attorney early in the process to gain insights about the legal consequences of various sale outcomes.
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