Reasonable Price On Your Business
An inflated figure either turns off or slows down potential
buyers, rely on your business broker to arrive at the best
"win-win" price. An "unrealistic
price" discourages many buyers from even looking at a
"Business As Usual"
Don't become so obsessed with the transaction that your
attention wonders from day-to-day demands, affecting sales,
costs, and profits.
Expert Business Broker
A breach of confidentiality surrounding the sale of a business
can change the course of the transaction and damage a business
in the future.
The Sale Well In Advance
A good business broker will prepare an offering portfolio for
the business to have ready for qualified buyers. The
business owners can help in the process by
"housecleaning" - as well as a literal sprucing up of
Information The Buyers And Their Financing Sources May Require
In order to obtain financing, the buyer will need appraisals on
assets. Lenders will require at least three years of tax
returns and the most recent financial statement.
Leverage Through Buyer Competition
A good business priced properly many times will create interest
from several buyers and create a competitive situation.
Don't be the kind of seller who wants all-cash at the closing,
or who won't accept any contingent payments or an asset
transaction. Depend on the advice of your business broker
- their knowledge of financing and tax implications.
You are used to being your own boss, but be prepared to learn
that the buyer may be used to having his way, too. With
your business broker's help, decide ahead of time "when to
hold and when to fold."
Keep Time From
Dragging Down The Deal
To keep the momentum up, work with your business broker to be
sure that potential buyers stay on a time schedule and that
offers and counter-offers move in a timely fashion.
Be Willing To
Even if you are feeling burned-out, realize that the buyer may
want you to stay within arm's reach for a while. Consult
with business brokers to determine how you can best effect a