Sell a Business for the Best Price
Selling a Pickles and Pickle Products Business
Don't believe anyone who tells you it's easy to sell a pickles and pickle products business. 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.
Like it or not, a pickles and pickle products business sale is a complicated affair, made even more difficult by the emotions associated with leaving a business you've poured your life into. But have you considered how your customers, vendors and employees will handle the sale?
Yet what many sellers don't appreciate is that a down economy can present the perfect opportunity to sell a pickles and pickle products business.
Preparing Family Members
You're ready to sell your pickles and pickle products business, but is your family prepared for the transition? Unfortunately, families often experience turmoil during a sale even when the primary owner is convinced it's the right decision. The sale of the business will likely result in new family dynamics. Subsequently, selling a pickles and pickle products business has to include ample communication and shared decision-making.
Seller Financing
Business buyers are in a capital crunch. Banks and other lending institutions aren't eager to lend to unproven and undercapitalized pickles and pickle products business buyers regardless of the business's potential. Rather than abandon their plans entirely, many buyers are pursuing finance concessions from sellers. Although 100% seller financing isn't recommended, sellers are financing up to 70% of the sale price to close deals.
Legal Considerations
It pays to invest in first-rate legal counsel when you sell a pickles and pickle products business. Competent legal counsel ensures that the sale documents are in proper order. Furthermore, a good lawyers provides the counsel necessary to navigate the tax and liability issues that surround a business sale. In some cases, an attorney may also provide assistance in securing long-term leases or vendor contracts to make your pickles and pickle products business more attractive to buyers. If you don't know an attorney with experience in the business-for-sale market, ask your broker for a referral.
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