As a seller, there are some common decisions you may have to make:
Financing – Do you prefer a higher offer with some seller financing or a lower offer with cash at close?
Transition – Are you looking for a quick exit? Does the buyer expect a lengthy transition?
Employees – Sellers are often very protective of their employees. Will the buyer relocate or replace staff?
Ownership – Are you looking to maintain a minority stake for yourself or your family?
Legacy – Most sellers don’t want to cash out and watch the company erode. Ten years from now they want to look at a successful business that they had a hand in building.
Real Estate – Is the buyer interested in your building? If the buyer does not want your facility, how soon can you fill it?
Trust – Do you trust the buyer? Some sellers will pass up higher offers to work with a buyer they feel better about.
Even if you know your preferences, you may not get everything you want when making a deal. A reputable business broker or intermediary will be sure that the right questions are asked to help you organize your thoughts, review your priorities and understand what the market will bear. In the end, you’ll find yourself in a better position to negotiate and close the deal—without sacrificing your goals.