Despite your best intentions, great business sales don't happen overnight.
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Eventually, it will the time will come to exit your business. When that happens, your future plans will be dependent on your ability to receive the highest possible sale price for your snuff business.
The Best Person to Sell Your Snuff Business
An unassisted business sale is a double-edged sword. Without a doubt, you have the most at stake in the outcome of your sale. That makes you the most passionate advocate for your snuff business in the business-for-sale marketplace. However, your close connection to your company can also be a drawback. Nearly all sellers have an inflated sense of their company's value. So in many cases, the introduction of third-party opinions regarding value and negotiation parameters is a fundamental requirement for a successful snuff business sale.
When Is the Right Time to Sell?
If you're feeling like your tenure as the owner of the snuff business is coming to an end, the time to sell is now. There are a lot of naysayers out there advising snuff business sellers to put their plans on hold until the economy fully rebounds. But despite the negativity that exists in some sectors, if you have a desire to sell your snuff business now, there is a high probability that you can sell it in the current market. The inventory of what we consider to be quality snuff businesses is actually low right now and there is room for the right sellers to realize substantial gains with investment-conscious buyers.
How to Skillfully Address Buyer Concerns
Buyers can present challenges, especially during the due diligence stage. Due diligence preparation can mitigate the irritation factor, but you should still expect to field numerous buyer concerns before closing. Avoid answering buyer concerns with vague generalities. Instead, be as specific as possible, even if it means doing additional research before offering a response. Refer to the Letter of Intent to determine how to wrap up due diligence and move the buyer on to closing.
Given your interest in exit planning and in snuff businesses, you might find these additional resources to be of interest.
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