Selling your business is a huge decision. But are you ready to sell? Most business owners aren’t, and that’s where professional assistance comes in. A qualified individual can help you reach the qualifications of “Ready to Sell.”
Most business owners don’t know how to get their businesses ready to sell, and as a result, they end up trying to do it themselves. This is the worst thing you can do, as it will likely result in a lower sale price and a longer timeframe to sell. The best thing you can do is work with someone whose sole profession is selling businesses. They will be able to help you get your business ready to sell so that you can get the best possible price for it.
It might seem tempting to skip the professional assistance, but experience has shown us that more often than not, the Seller will spend more time and money trying to sell and take less than the business is actually worth because they skipped the professional assistance they needed to insure the best price. In short, leaving money on the table!
Be fully prepared. This may range from sprucing up your business to preparing all financials in their true earnings condition, understanding the tax implications of a sale, gathering more dollars for your business beyond the closing and knowing who most probably will be your buyer. You should also know the best manner in which to market your business and what it is worth. Being prepared will help you make the best decision for you and your business.