The economy isn't the only thing that is uncertain these days. So are Italian food business buyers, many of whom are waiting to pull the trigger on their next acquisition.
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Market timing is a constantly moving target. Knowledgeable entrepreneurs understand that market timing isn't nearly as important as other factors in a Italian food business sale. The key is to go into the sale with your eyes open and with complete awareness of market condition.
From the day they decide to sell their company, the question that plagues many owners is how long it will take to sell their Italian food business. The amount of time your business will be on the market depends on how aggressively it is priced and marketed. To adequately prepare your business listing, plan on spending six months to a year prior to listing. Even though it's conceivable that an attractive opportunity could sell in weeks, an immediate flood of offers could indicate that the business is underpriced.
How Much Does It Cost to Sell an Italian food business?
You'll need to incorporate the cost of the sale into the calculation the minimum price you are willing to receive for your Italian food business. Good brokerage takes a 10% success fee off the top of the final sale price. Depending on your circumstances, you may also incur substantial expenses in hiring legal, appraisal and accounting professionals. Furthermore, your time has value, so you may need to include a personal compensation consideration in your expense estimates.
Business sellers are sometimes surprised to find themselves in the position of negotiator-in-chief. When you sell your Italian food business, your business brokers may or may not be willing to conduct negotiations for you. Negotiation is a chess game, best played with the resources and backend support of a negotiation team. Good negotiation teams support sellers, giving them insight and advice about how to overcome buyer objections and drive the process forward to a successful conclusion.
Given your interest in exit planning and in Italian food businesses, you might find these additional resources to be of interest.
If starting an Italian food business is on your agenda, these guides will help you get started:
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If you are looking for exit plan advice for a different kind of business, try our directory of exit planning guides below.