Exit Planning Advice By Market
Selling an Aerosol Business
No one said selling your business in a depressed economy would be easy. Fortunately, a aerosol business sale isn't as scary as it seems.
The process of selling an aerosol business can be one of the most stressful experiences of your entrepreneurial career.
There are still plenty of aerosol business buyers looking for opportunities that present well in the marketplace.
Preparing Family Members
Many sellers embarked on their aerosol business sale without adequately considering the impact it will have on their families. In many cases, we find that even though business owners are equipped to handle their ownership exit, their family members are having a hard time letting go of the business, especially if family life has revolved around the demands of the aerosol business. The sale of the business will likely result in new family dynamics. Subsequently, selling an aerosol business has to include ample communication and shared decision-making.
Identifying Serious Buyers
Unfortunately, many of the prospects you will encounter aren't serious buyers. As a seller, it's important to separate the tire kickers from the serious buyers as soon as possible. Each tire kicker is an investment of time and energy that could be poured into finding a more qualified prospect. If you aren't sure what to look for in a serious buyer, ask your broker for advice. Never provide detailed information about your aerosol business until the prospect has been qualified as a serious buyer.
In an aerosol business sale, the Letter of Intent contains the vital elements of the deal between the buyer and the seller . If you are seeking buyer concessions, the time to address them is before the Letter of Intent is drafted. For sellers, that makes a close review of the Letter of Intent more than a formality - it's a critical juncture on the path to closing.
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