Business Sale Planning

If you are planning to sell your business, whether you have received a good offer you can’t refuse, you need the money, or have health issues, then you need to ensure that you plan it properly and take your time. The better you plan it all out the less problems you are likely to have further down the line. Although the information below is not set in stone, it is generally the accepted as the basic advice to follow if you are planning to sell your business.

Selling Options

You can sell your business outright for a single sum, but maybe it would be better if you just sold a majority share in it, especially if the business is doing well. That way you still get income from it, but have the free time to do what you planned with your life. Another option is to sell the business but retain the property rights and lease them to the person who buy your business.

Looks

When selling a business you have to make sure everything looks good, and that includes yourself, so wear a suit and tie for any meetings with potential buyers, it makes you look more professional. If you have property that will be included in the sale make sure it is clean, and if it needs a coat of paint, do it, it is one less excuse a buyer can use to knock down the price.

Broker

Use a broker to find potential buyers for you as they know where to look and how to get you the best deal. If you do it yourself you will likely end up selling below the market value.

Accountants and Lawyers

Never go through a business sale without using a lawyer who is trained in business sales, and you should make sure that a professional accountant has all your finances in order.

When you are planning to sell your business it is best to make sure that it all goes as smooth as possible, and you get paid what it is valued.