Dire economic forecasts have forced many petting zoos business sellers into hibernation. Instead of listing their companies now, they're hanging back until they see signs of an economic recovery.
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A business sale is always a sophisticated transaction and if you aren't prepared for it, your petting zoos business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
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. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. With seller financing becoming common, professional accountants are playing a more central role in negotiations and buyer qualification.
Dealing with Tire Kickers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. As a rule, they limit the amount of information that is provided in the initial stages of an engagement, waiting to reveal the juiciest details of the business until the prospect has been thoroughly vetted. Smart sellers may require prospects to provide background and financial information fairly early in the process as a way of verifying the financial capacity to close the deal.
Advertising Your Sale
The best petting zoos business sales incorporate comprehensive advertising plans. But confidentiality issues are a hurdle you'll need to address before you put your petting zoos business on the market. The knowledge that your business is being sold almost always converts into negative PR with your customers and vendors. The best way to advertise a petting zoos business is to enlist the assistance of a business broker who is skilled in locating and contacting prospective buyers.
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