A different way to sell a small business

Over the years, we at Tacony have watched as businesses have been sold by long-time customers who end up financing the deal.  In many cases, things work out well.  However, in at least three cases that quickly come to mind, the prior owners ended up taking their former business back.  In a recent case, the business plan by the new owners was to put none of their own money into the business but rely on terms from vendors.  In this economy, that’s a very hard sell to a vendor and certainly we could not go along with it.  So, as the article says, be sure to review the business plan to see if it make sense.  If you need help reviewing it, Tacony and your other vendors would be glad to assist.   

 

Bill

 

Comments

[Ted Hurlbut]

The times put a lot of small retailers in a bind. Should I sell 9and have to finance the sale), stick it out and turn it around (likely putting more money in with the hope of getting it back out later on), or liquidate and get what I can out of it. Unfortunately, for too many, the last option looks like the most attractive.

[Chrystal]

Selling your business is definitely a big decision.