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Selling your own home without a real estate agent is difficult enough, but selling your business without professional help from a certified business broker is a recipe for disaster. Business sales involve tedious details and complex considerations unique to business transactions, and only a business broker can navigate those waters with ease. 

Whether you are beginning the process of selling your restaurant, club, retail store, or construction company, you need a business broker. Working with a business broker offers a highly effective way to find legitimate buyers and earn the most for your sale.  (more…)

If you own a business and feel ready to sell your company and move on to your next big adventure, there are many factors you need to consider. Use these tips to make sure your prospective buyer has everything they need to complete a successful and profitable sale. 

Prepare Your Financials Before Listing Your Business For Sale

The only way to create an accurate assessment of your business is to prepare two to three years of business records. It’s best to build these records over time, but it’s not uncommon for business owners to become so consumed with running their business that they let documentation take a back seat. If you find yourself in this position, you have no choice but to gather your papers, roll up your sleeves, and do it all now.  (more…)

Regardless of the size of your business, you are likely very familiar with your bottom line. You know if your business is making money. You know that you paid for your equipment and building. You know what your inventory costs. But do you really know the value of your business?

The value of your business is something that is not so easily defined. There are a lot of factors that go into determining the value of your business, including the local economy and depreciation values. There are several reasons you may need to know the value of your business, and it is best to be prepared in advance for any situation.

Events in Business

If you have a partner, want to get a partner, or want to increase shareholders, you will need to know the value of your business and the value of the shares. Another common reason to need to know the value of your business is when you need additional funding. You may want to get a small business loan to expand your operation or meet operating costs in a down year. Lenders will want to see hard evidence of the value of your business. (more…)

Selling a house is hard enough, but selling a business can feel impossible. Unless you ran a commercial real estate business, you probably don’t know the first thing about selling your company for a profit. It’s important that you know what to do and what not to do. Try to avoid these mistakes so you can secure your sale and walk away happy.

Don’t Get Greedy

Finding the right selling price is perhaps the most challenging component of selling a business. If you set your price too high, you will discourage legitimate leads who aren’t willing to shell out such a high figure. Bidding too low, on the other hand, will rob you of your profit margin and put you at risk of breaking even – or worse. Finding your sweet spot for pricing is largely based on the size of your business, your context behind selling, the industry, and the local market.

Don’t Ignore Marketing

Just like homeowners need to carefully clean and stage their homes for listing pictures and open house events, as a business owner you need to promote your company to make it appealing to potential buyers. You cannot expect your broker to do all of the work! Put effort into marketing the positive aspects of your business and all of its potential.

Don’t Sell On a Whim

The devil is in the details, right? It is essential to plan ahead and schedule to sell your business within a reasonable time frame. Going into your sale without preparation, or waiting too long to approve a buyer, can have many negative consequences. With a bit of long-term planning, you can be sure that all of your information, records, and paperwork are updated and prepared if you unexpectedly stumble upon the perfect buyer. (more…)