When you have a business that you're wanting to sell, do you really know what is required of you? How do you really know you're ready? Is it something you've thought through and have prepared yourself for? Selling a business is a different caliber of selling, and there are so many details to consider. While you may think it is just a simple task, it's so much more than that. There are a lot of things that you should be thinking about, and one of the very first is the possible methods for selling a business.
Maximize Value How can I maximize the value of my business? As a Transworld Business Brokerage, we are asked this question frequently. There are steps and strategies a business owner can employ when preparing to sell a business. The key is preparation – the better prepared your exit strategy is, the higher the selling price it will command, and the more likely it will sell. A few minor enhancements can dramatically increase the marketability of your business.
If it's your first time involved in buying or selling a business, there may be some terms with which you're not familiar. Some of them are very important and having an understanding of what they mean will be very helpful.
Among the most valuable tools for determining the value of a businessis its balance sheet. It can reveal some very telling information about the company if you know what to look for.
A non-disclosure agreement, or NDA, can be a very valuable document during the purchase or sale of a business. Perhaps someone has brought up the idea of drawing up an NDA during your current negotiations to purchase or sell a business, and it left you wondering if one is really necessary. Our opinion is that it is, and here's why.
The way a business transitions from one owner to the next can have significant repercussions for its future success. Could you imagine what might happen if, upon completion of the sales transaction, the seller handed the keys to the buyer and, with a “good luck”, simply walked away? So much knowledge, insight, and history would also be going right out that door.
When you’re a business owner, the end of the year tends to look a little different for you than for the rest of the world. While others focus on the changing weather, upcoming holidays, visiting with loved ones, and eating comforting meals, you’re more likely to be crunching numbers, meeting with your accountant, and balancing an annual budget.
When you’re selling a business, it can be all too easy to get tied up in the process. After all, selling a business requires preparation, gathering info for the valuation, listing and working with the buyer through due diligence . Instead of getting bogged down by the to-dos, remember one thing: you cannot sell a business without a buyer. In order to attract the right buyer for your business, it’s important to focus on the key things buyers are looking for. Read on for what to expect when selling a business.
While business ownership, and more specifically small business ownership, hasn’t been a primary talking point throughout this election cycle, we cannot ignore the potential for impact. Business owners always seem to have a lot at stake during election years – and this year is no different.