Exit Planning Strategies
Selling a Vineyard
Think vineyard sales have dwindled to a standstill? Think again. Here's what you need to know to get a fair price for your company.
A business exit is always a trying experience. But when you need to sell your vineyard in a depressed economy, the challenges can seem insurmountable.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to vineyards that exhibit strong financials and potential for future growth.
Promoting a vineyard Sale
Successful vineyard sales incorporate comprehensive advertising plans. However, confidentiality and other concerns can present challenges, even for sales professionals. If sale information leaks out, competitors can use it to steal customers and circulate negative messages about your business throughout the industry. Business brokers are skilled at publicizing vineyard sales while maintaining the confidentiality that is critical to your business.
Dealing with Tire Kickers
If you haven't sold a business before, prepare to be overwhelmed by tire kickers -- seemingly interested buyers who lack the capacity, ability or desire to actually purchase your vineyard. Even though tire kickers are a fact of life in any sale scenario, they sap valuable time and energy that could be spent identifying more serious prospects. Your business broker can offer insights about how to quickly spot tire kickers. It's likely that non-serious buyers will want to know everything about your vineyard during their initial inquires. Avoid releasing details about your vineyard until you have established that they have the financial capacity to make a legitimate offer.
How to Increase Sale Price
If you haven't sold a business before, may be surprised by the time investment that is required to sell a vineyard. A business broker handles much of the legwork involved in the sale. Solo sellers usually find that it's simply too much to sell their business and lead it at the same time. Subsequently, they settle for less than the business's potential sale price. For a lot reasons, a decision to hire a broker is almost always the right decision, especially for sellers who need to receive top dollar for their vineyards.
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