Smart sellers understand their competitive advantage, what a realistic asking price is, and a potential buyer’s qualifications, well before they begin negotiating.
According to IBBA, only 10% of businesses for sale actually sell. However, working with an experienced and educated Business Broker doubles the likelihood of a successful close.
Showing a positive sales trend and having enough cash flow to support a new owner's income and financing, for example, can lead to a quicker sale (most businesses take a year to sell) at the highest possible asking price.
In the next ten years, more businesses will turn over as baby boomers continue to retire. According to the online business marketplace BizBuySell, it’s a good time to sell: a record 10,312 small businesses sold in 2018. Contact us for a free consultation today.
When deciding to sell your business, the first question to dig into is: Why? Not only will your potential buyers and advisors be interested, so will nearly everyone in your personal and professional network. Whether you’re motivated by retirement, conflict, crisis, or opportunity, be prepared.
A business sale can take six months to a year – even a multi-year process isn’t out of the question. By taking the time to prepare your company for sale, you’ll stand out from those who don’t and appeal to wider range of buyers. Adequate preparation takes time and provides value. Our advisors are knowledgeable in planning exit strategies and are here to help.
Enlisting professional advisors can provide you with financial savings and help you navigate the selling process. Trust your instincts to know if you need help with accounting, taxes, real estate transfers, legalities, transactions, vendor relations, and inventory matters. Partnering with a good business broker or advisor can provide invaluable support.
At Transworld Business Advisors of Minnesota, we have business valuation experts on staff to help you value your business. We can meet with you and discuss your business’ worth value or we can be engaged to perform valuation reports. To get an estimate of what your business is worth using our Free Online Calculator now.
A breach of confidentially can put a serious dent in your plan to sell a business. If word of the sale spreads throughout the company, staff and customers may wonder how the sale could affect them and seek exit strategies. Work with individuals and advisors who guarantee discrete marketing and proceedings. Keeping your process confidential is necessary for maintaining your bargaining position.
Buyers understand good business – but you need to articulate your vision, and clearly identify your growth story. Preparation and focus is especially important during this progression. Knowing which information to share and how to handle conference calls can make or break the selling process. With a network of more than 300,000 buyers, Transworld Business Advisors of Minnesota connects sellers to qualified prospective buyers.
When you’ve decided to sell your business, you’re faced with months of details, consideration, and process. This often happens in conjunction with still running a business, and maintaining revenue, employee and customer satisfaction, and strong brand recognition. Transworld will handle all the aspects of the sale so you can remain focused on what matters.
Another aspect of selling your business is managing the expectation and responses of others – your family, business partners, community, and competition. Transworld will work discreetly and earnestly, arriving at the point where it makes sense to publicize the sale, only when it makes the most sense.
Valuation is the number one question of all our sellers when contemplating a sale. On the flipside, it’s also the concern of many buyers when purchasing. There isn’t an easy answer or basic algorithm to provide the exact value of a business.
The single, most effective way to gauge the value of your business is to speak to someone at Transworld – reach out now.
Want an instant estimate of what your business is worth? Find out using our free Business Valuation Calculator.
There is more is to selling a business than the highest and best price. The facilitation of the process and managing expectation can be handled while keeping your integrity as our main focus. You have a business to run and customers to satisfy, so Transworld will ensure that happens while diligently working to find you the perfect buyer for your business.
Every buying decision is driven by emotion – then logic and facts are used to justify that decision.
Think about your past year. Do you remember the numbers and stats, or do you remember the stories that created those stats? Almost everyone remembers the stories and almost no-one remembers the numbers. Without the story of why a buyer needs your business, the numbers aren’t that motivating.
The story is crucial. Let us help you tell your story!
Have more questions? View all of our seller FAQs at the link below.
A business will likely sell for two to four times seller’s discretionary earnings (SDE)range –the majority selling within the 2 to 3 range. Read More
There is a great deal of variation in the time frame, but, if we had to pick an average time, eight to nine months may be close. While this may sound like a long time, all of the facets of selling a company, including listing the business, finding buyers, interviewing buyers, writing contracts, due diligence and finally the closing process are all time consuming.
The lack of good business records is the single most common reason for a business sales deal to fall apart. We can`t emphasize enough the importance of maintaining good books and records before selling. This includes accurate financial statements, cash register receipts or whatever records are necessary to prove income and expenses. Of course, current tax returns are a must. However, we are used to selling businesses that may have less than adequate records.
From business brokerage to mergers and acquisitions, we are the business sale specialists.
"I have worked with Scott both professionally and personally for the past 25 years. He is very passionate about everything he involves himself with. If you are looking for a true partner to represent you I can personally recommend him and his company."
"I couldn't have sold my business without Lauren Altshuler's help, she was always available to help me and went out of her way to get answers and convey my thoughts to buyers. I highly recommend Transworld in your business sale or buying event. Great job Lauren!"
"Mark, and the team at Transworld, did an awesome job evaluating our businesses. They were reasonably priced and finished sooner than expected. I would definitely recommend them!"
"I first met Dan Huber at a network breakfast meeting in 2017. Dan told me that he helps people retire as a business broker. I got to know Dan and trust him and allowed him to post my business for sale. Within nine months Dan interviewed several buyers and found a legitimate offer. Dan took care of all the paperwork and referred great legal council. He was at the closing of my business and because of Dan I am now unhitched from my business and enjoying the freedom of retirement. Thank you very much Dan Huber you’re the best!"
"Mark did a great job navigating the selling of our small business. Very happy."
"Scott and his team did a great job of marketing our company with great success."
"Scott is the best Business Broker in all of Minnesota. He sells businesses fast with integrity and has great inventory of businesses for sale."
"I am pleased to have hired Lauren to sell our business. She made recommendations that resulted in an attractive offer with a perfect buyer. She worked on all the details so we didn’t have to, brought us a qualified buyer that was a perfect match for our business, and closed the sale in an efficient manner. I highly recommend Lauren for a successful exit plan and/or business sale."
"Dan Huber was great to work with on our business transaction. He was able to find the perfect buyer for our company. Thanks Dan!"