Sell a Business for the Best Price
Selling a Pet Enclosures and Runways Business
Most businesses are susceptible to economic conditions and pet enclosures and runways businesses are no exception. But in some cases, a down economy can actually improve saleability. All it takes is a strategy to identify solid prospects and convert them to buyers.
It's a fact: Successful business sales take time.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to pet enclosures and runways businesses that exhibit strong financials and potential for future growth.
Timing the Market
Worried about timing? Believe it or not, this could be an advantageous time to put a pet enclosures and runways business up for sale. A depressed economy means lower interest rates; lower interest rates increase the number of investors willing to take a chance on pet enclosures and runways businesses. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. So we see market timing as a concern that can be easily mitigated by applying fundamental sales strategies and adequately preparing your company for buyers.
Pros & Cons of a Sale to an Employee
Employee sales have pros and cons. A key employee may seem like a natural sales prospect. If you need to sell quickly, the timeframe is condensed in an employee sale because you don't need to track down a buyer. Yet most employees lack the means to buy their employer's business at or near the asking price. Most of the time, employees also expect owners to finance a large portion of the sale. So if you aren't willing to finance the sale or need to get top dollar for your pet enclosures and runways business, a sale to an employee is probably not a possibility.
Working with Accountants
Accountants lay the financial groundwork for a business sale. From a seller perspective, an accountant can offer personal financial assistance, especially when it comes to handling the disposition of sale proceeds. A professional audit can ease buyer concerns and amp up the value of your financial presentation. In many instances, your accountant will be invaluable in evaluating prospective buyers' financial position and buying capacity.
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