The time to sell is when you do not have to sell.
Selling a business can be a tricky undertaking with many considerations involved. Are you financially able to sell your business? How much is your business worth? How do you begin the process of marketing your business for sale? Who will facilitate the
transaction? By answering these questions, you can begin to determine if now is the time for you to sell your business.
The first question you must answer is whether or not you can afford to sell your business. Carefully review your personal and business finances to determine if your expenses can be covered by your income, perhaps supplemented from the sale of your business. Try to be conservative with your financial planning. Remember that taxes will be taken out of your business sale revenue and should be accounted for in your planning.
In order to more accurately answer this first question, an accurate valuation of your business will help you. The best way to accurately value your business is to consult with an experienced business broker. A business broker will carefully and fairly value your company by using extensive and thorough analysis of your business, the current market environment and your insight into the business. An accurate valuation will make your decision easier.
The next step is determining how to maximize the value of your business and begin marketing the business. I strongly recommend working together with a business broker such as myself to accomplish this. As an expert in business brokerage and business valuation, I will guide you through the transaction details, find you the right buyer and consult with you on ways that you can shore up any weaknesses and maximize the value of your business. As your business broker my goal is to ensure a smooth sale at the best price. A well-orchestrated transition will be good for you, for the buyer, for the continued success of the business and for your employees.
If you are considering selling, reach out to me for the next step. Selling a healthy business when you can afford to sell will maximize the value of your business sale price and ensure continued success of the company. But the best results in a business transaction will come from working together with an experience business broker on your side.