Business buyers are a timid lot, even more so now that they are facing an uncertain economic landscape.
(article continues below)
In today's market, there is still plenty of room for worm businesses that demonstrate solid earning capacity and a robust market position.
Preparing for What's Next
The decision to sell your worm business can't be made without adequate consideration of what will happen after the sale. many sellers find themselves ill-equipped to handle life after their business and fail to understand that their future plans can influence the sale process. In today's market, many buyers expect seller financing - a concession that might not be a possibility for sellers whose next step requires the entire proceeds at the time of the sale.
Sellers aren't the only ones who can make concessions in a business sale. In many instances, sellers can request buyer concessions. Often, buyer concessions represent financial incentives that the seller receives in exchange for providing a non-cash benefit (e.g. training, financing, etc.. You can also choose to exclude certain items like equipment or inventory from the deal if the buyer isn't willing to meet your price expectations. By selling excluded assets on the secondary market, you can compensate for an anemic sale price.
Tips for Working with A Business Broker
Many sellers employ business brokers to manage the details and direction of their sale. Brokerage is particularly common in the worm business-for-sale market, where aggressive selling strategies are the norm. Brokerage doesn't replace the seller's requirement to be involved in the sale; it augments the seller's efforts and creates a more seamless sale process. Successfully brokered sales are based on solid relationships between brokers and sellers as well as the strict execution of a common selling strategy.
Given your interest in exit planning and in worm businesses, you might find these additional resources to be of interest.
If starting a worm business is on your agenda, these helpul resources may be just what you've been looking for:
If you consider worm businesses to be sales prospects, this isn't the best resource for you on our site. These helpful guides are more appropriate for you:
If you are looking for exit plan advice for a different kind of business, please browse our directory of exit planning guides below.