So, You're Thinking about Selling Your Business?

Selling a business is not an event, it is a process. Many times, the process begins months and even years before the actual sale is completed. The two biggest mistakes business owners make are failing to properly prepare their business for the market or waiting too long and having health or market conditions deteriorate. Let's face it, no one runs their business to see how much tax they can pay, but the first thing a buyer wants to see, a tax return.  Properly preparing for the scrutiny of a buyer is a big part of preparing your business to sell.  Far too many times I've seen owners hold on to their business too long, the business stops growing or begins to decline making it much harder to sell. Or the owner has a sudden or catastrophic health issue that forces a fast sale a bargain price.  Don't wait too long, book a call!

Far too many times I have heard owners say, "one of these days someone is going to walk in here and want to buy this place". My response is " Well, you've been in business for 40 years, how many times has that happened so far?" Sometimes people will say "if you ever want to sell this place, I'd like to buy it" but when it comes right down to it, it almost never comes to pass.  The fact is it will likely preparation, marketing and skill to find the right buyer for your business. Even if you have buyer in mind, do you know how to price it, workout an advantageous deal structure and get the deal done while keeping everything confidential? We can help you make good decisions when it comes to selling your business but only if you give us a call. Take action and get the ball rolling!

As with most things the first step is a decision to do what it takes to begin the process. Often times this is a difficult decision. After all, you built this business, it's like a member of the family, many say it's "their baby:" Once the decision is made it is important to get some trusted advisors in place. As a business broker, we always think you should hire a local broker with a strong track record and a stellar reputation, but we do admit to being biased on that. Beware of internet gurus, buyer's agents/employees and other schemes. There are too many to list, but we can help you find a suitable advisor and show you what to look for.  The same goes for the rest of your advisor team. Many times, the family lawyer, accountant or banker just don't know how to manage these complicated transactions. Even if you want to DIY your business sale, you will benefit from expert advice. Give us a call and we can get you pointed in the right direction.