Business Brokers and Consultants

P.C. Geffers, Associates

 

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A FEW General Tips on "Selling a Business."

  1. Make sure you really want to sell your business and that the timing is right.

  2. Continue to run the business to the best of your ability - maximizing sales and profits.

  3. Decide what you are really trying to sell - Cash Flow, Growth Potential, Assets, etc., etc., etc.

  4. Sell off or dispose of any non-producing assets.

  5. Prepare a comprehensive list of all assets to be included in the sale.

  6. Make sure all financials are up to date and have at least the prior 3 years available.

  7. Be ready to answer common buyer questions such as - Why are you selling? - How much do you want and how did you arrive at the price? - What could a new owner do to increase business? - and a multitude of other questions.

  8. Make sure any prospective buyer is fully screened and qualified.

  9. Understand that too many buyers visiting your business will disrupt the way you do business and comprimise confidentiality.

  10. Be prepared to move quickly. - Don't let the deal drag. Realize that the longer it takes - the less likely it will ever close

Business owners will sell for a variety of reasons. - Burnout, tired, wanting to cash out, wanting a new direction, health issues and retirement are among the most common.

All business owners will reach that time when they want to move on.

It can be either a painful or joyful time - depending on the circumstances.

The goal is to make it a joyful time - at the right price and with the right buyer.