Exit Planning Advice By Market
Selling an African Goods Business
We hear from a lot of business owners who are timid about listing their African goods business. Despite the mood of the market, we think there are still opportunities to receive a good price for your African goods business. Here's what you need to know . . .
Market timing is a perennial problem for business sellers.
Fortunately for sellers, forward-thinking entrepreneurs continue to be attracted to African goods businesses that exhibit strong financials and potential for future growth.
Workforce Concerns
As a business owner, you want to keep you employees informed about your plans; as a seller it's in your best interest to keep your employees in the dark for as long as possible. You're concerned about confidentiality, and rightfully so. But sooner or later, employees will begin to suspect that something is up, especially when you start parading prospective buyers through the business. So at some point you will have to resign yourself to the idea of telling some or all of your employees that you have listed the African goods business on the market. Your employees will undoubtedly have many questions about their future with the company. Try to answer their questions to the best of your ability, but avoid making any promises that you are not authorized to make.
Timing the Market
Now may be the best time to sell an African goods business. Although the economy is generally struggling, low interest rates make African goods businesses more attractive to entrepreneurs who want to get in the game. As the interest rates rise, it will be more difficult for buyers to make the numbers work in their favor. At Gaebler, we recognize the value of timing the sale of your African goods business. But we think it's more important to properly position your business for current market conditions -- whatever they may be.
Leveraging Industry Connections
Today's African goods business buyers can be found in a variety of locations. To advertise your sale to the widest possible audience, consider a listing on BizBuySell.com or other top online business-for-sale listing sites. More focused prospects are typically found within industry networks. When leveraging industry relationships for sales prospects, you'll need to be cognizant of the potential for competitors to use knowledge of your sale against you in the marketplace. Your broker may be able to offer strategies for promoting your sale within your network while maintaining some remnant of a confidential sale.
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