Exit Planning Advice By Market
Selling an Animal Feed Business
We hear from a lot of business owners who are timid about listing their animal feed business. Despite the mood of the market, we think there are still opportunities to receive a good price for your animal feed business. Here's what you need to know . . .
The process of selling an animal feed business can be one of the most stressful experiences of your entrepreneurial career.
Eventually, it will the time will come to exit your business. As a consequence, you have a substantial stake in knowing how to receive maximum price for your animal feed business.
Negotiating Your Sale
As a business seller, you have to be at the top of your negotiating game. More often than not, the person with the most knowledge will come out on top in an animal feed business negotiation. But great negotiation begins with knowing yourself. What is the realistic price range for your animal feed business? What is the minimum amount you're willing to settle on? Are you willing to offer seller financing or other concessions to close the deal? If you can't answer these questions, you're simply not ready to sit down at the negotiation table yet. Consult with a broker, advisor, or negotiation team to clarify your expectations and devise a negotiation strategy.
Average Preparation Time
Preparing an animal feed business sale takes time. Since buyers prefer to see evidence of future cash flow, you'll want to to strategically lock in cash flows and increase profits before you list the business. You'll also need to create financial reports, operations manuals, and other documents to create the perception of a turnkey animal feed business operation. Since all of this takes time and effort, a animal feed business can rarely be ready for the marketplace in less than six months. A more likely scenario is that it will take more than a year to create the conditions necessary to receive the maximum sale price.
How to Choose a Business Broker
Good business brokers inevitably produce better business sales. In the animal feed business industry, experience is a must-have characteristic for qualified brokerage. The best brokers should also come with a list of references, a demonstrable track record and a proven plan for selling animal feed businesses.
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