You won't find any magic formulas for selling a smoked and dried fish and seafood business, especially while the market is struggling to overcome the perceptions created by a down economy.
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Success is a factor of preparation, execution and a keen eye for the market. As a business seller, you need to go into the process with the mental goal of presenting your business in the best possible light.
Dealing with Your Emotions
Business sellers sometimes struggle to handle the emotions of a sale. Although you might think you're ready to exit your business, selling and separating from a smoked and dried fish and seafood business scan stir up a range of emotions. It's important to allow yourself time to process your emotions during your exit. At the same time, it's helpful to consult with people who can help limit the influence of your emotions on negotiations and other aspects of the sale process.
Turning the Tables: Buyer Concessions
In a tight economy, seller concessions are the name of the game. But that doesn't mean you can't push for buyer concessions to achieve a more favorable outcome in the sale of your smoked and dried fish and seafood business. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. Asset exclusions, retained ownership shares and long-term contracts with another of the seller's companies can also be leveraged to extract concessions from buyers.
Should I Hire a Business Broker?
When selling a smoked and dried fish and seafood business, you have two choices: Hire a broker to facilitate the sale or perform the sale unassisted. Is there a cost associated with hiring a broker? Sure - about 10% of the final sale prices. But a good broker will make selling your smoked and dried fish and seafood business much less painful. You can also expect to receive a higher sales price for your business in a broker-assisted deal.
Ready to learn more? You may find these additional resources to be of interest.
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