I’m dog-tired and ready to sell.

Rock, I thought I had a few more years in this dog, but I’m exhausted. What would it take to sell my label business this year?

You are not alone, my friend. The pandemic, inflation, and supply chain shortages are knocking the wind out of many business owners. Owners call me daily, wondering if it makes sense to sell right away – even this year if possible.

Yes, you can sell this year. I want you to be realistic about what happens with a short runway, so let’s start with the ideal timeline.

In the best scenario, you need five years to prepare. A buyer wants to see three years of strong financial performance plus evidence of growth potential. We need about 18 months to get the business on the upward curve.

To make that happen, the owner needs to invest in the business, hire an advisory team like LaManna Consulting Group to create a strategic road map, choose the right team of experts, and commit to keeping the process moving.

Now let’s talk about your desired timeline.

To close on the sale of your business before the end of the year, you will need to market it “as is” with as few contingencies or encumbrances as possible.

Your timeline is challenging but not impossible.
The winds have changed in the buy-sell arena, shifting to a buyer’s market. For the rest of this year, we’re unlikely to see over-the-top bidding wars or extreme multiples for any but the most desirable candidates.

For a quick sale, you’ll want to come to market with a fair price and a professional marketing program that catches interest. Buyers scrolling through listings and taking our calls need to be curious enough to stop and pay attention. If you are overpriced or appear unprofessional, buyers will not give you the time of day.

You will also want to talk to your tax advisor about the ramifications of selling in this calendar year. There are good reasons sellers time the sale to maximize their proceeds and minimize the tax impact.

If the decision is a go and you retain LaManna Consulting Group to assist you, we will prepare your valuation, create an eye-catching teaser, promote you to our vast, active network, and hand-match you with buyers who are looking for businesses like yours.

Part of our evaluation will include your real estate, your management team’s experience, and your employees’ quality.

If you know friendly competitors who have expressed interest in your business, we can help you maneuver from a position of strength in your negotiations. We can inspect and rank the offers with you. If one of your employees is interested in buying the business – all at once or over time – we can help you evaluate that option.

The firm you hire to assist you should be:

• Highly knowledgable about the label sector;
• Have deep connections among prospective buyers;
• Well-regarded by the other experts on your dream team;
• Have specific experience buying and selling businesses;
• Have your best interests at the forefront;
• Continuously operating from a place of integrity, transparency, and respect.

Here is one thing we have found to be true in our decades in the buy-sell arena: Rushing to sell your business puts you at a disadvantage psychologically.

Sellers need to emotionally separate from the business – which takes time. We have seen sellers get cold feet and stall on a qualified offer because they couldn’t face the idea of someone else running their company. If you want to sell your business this year, we must address the psychological aspect of the sale immediately. I’d like you to talk to our LCG leadership expert and begin the process.

To get started, download my free guide, Code Red: 12 Seller Mistakes.

After you read it, let’s have a heart-to-heart conversation. I’d like to hear about your family situation and understand where you are situated financially. You don’t want to undermine your ability to live comfortably in retirement.

If you want to sell your business quickly, you need an experienced advisor who can help you navigate the process and get you in front of qualified buyers immediately. I’d like to explain our LCG process and map out a timeline with you so we can be strategic with your plan.

Selling your business is a serious financial decision. Let’s work together to make it a wise one.