Sell a Business for the Best Price
Selling a Potato Chips Business
Business-for-sale markets are susceptible to a variety of influences. As you know, the potato chips business industry has seen more than its share of fluctuations in business values. Many sellers have exited their companies under less-than-ideal circumstances. Yet it's still possible to achieve personal and professional goals when selling a potato chips business during challenging economic times.
When it comes to selling a potato chips business, there are no shortcuts to success.
We've got a hunch you'll be successful in starting a potato chip company. All it takes is the right recipe, resources and a willingness to compete.
At Gaebler, we're seeing potato chips business sellers succeed by applying sound sales principles combined with a refusal to be intimidated by a down economy.
Preparing for What's Next
The decision to sell your potato chips business can't be made without adequate consideration of what will happen after the sale. If you aren't sure what's next, you could be in trouble because future plans and selling strategy are inextricably connected. For example, seller financing can be an extremely valuable concession, especially in the current economy. But if you need all of the proceeds of the sale upfront, seller financing is off the table and you'll need to find a different way to make your potato chips business attractive to buyers.
We run into a lot of potato chips business sellers who intend to wait until the final contract to negotiate details. Big mistake. With few exceptions, sale structure is hammered out early, in the Letter of Intent . By the time the deal reaches the final contract, many of its features are set in stone. Never sign a Letter of Intent until it has been properly reviewed by your attorney and you are in complete agreement with everything it contains.
When to End Negotiations
Negotiations have a way of dragging on forever. But sooner or later, someone needs to bring negotiations to a close. Unfortunately, that responsibility often falls on the seller. In a potato chips 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.
Have Friends Who Might Like This Article?
Let them know on LinkedIn
Ready to Learn More? We Think You Might Like These Articles:
Additional Resources for Entrepreneurs