Selling a main-street business, the critical factors
Selling a Main-Street Business, by our definition… a Company with less than $1,000,000 in annual owner benefit, is one of the most misunderstood and poorly managed processes in small business today.
This is unfortunate too, because a lot of high-energy, risk-taking entrepreneurs have spent years bare-knuckle brawling with lenders, suppliers, employees, competitors and governments to provide for families, create wealth and provide jobs and service to their communities and one might think exiting for other opportunities or the golden years would be rewarding.
To have the advantage, or at least an opportunity to get to the closing table, you must see the business through the eyes of a buyer and lender, so you’re prepared for the incoming fire that will inevitably come your way.
7 Critical Points Every Business Owner Must Know Before Selling Their Business
When its time to sell a business you have worked hard to build you may not know where to even start. The process of selling a business is overwhelming and you may have a lot of questions. Many owners look to their accountants or lawyers to help but these professionals don’t have all the necessary training or skills to take on a project like selling a business. When selling a business there are at least four professions that needed to be included on even a basic sale. Accountants, lawyers, investment bankers and more may be called in to ensure the process is done properly, efficiently and is mutual beneficial for the parties involved.
If you have been considering selling your business we want to help, we can guide you through the unknow process, elevate stress and tackle any obstacles that come up.
Are You Ready to Sell Your Business?
If you ask a business owner how to sell a business, they will likely have no idea how that process would work or who they should contact for help. The selling process is complicated, tedious and overwhelming. Many business owners may ask they lawyer, accountant or CPA for help but they likely cannot deal with the entire business sale. The process of selling a business generally includes at least four professional services to aide in the transaction. The thought of needed to organize four professional services can make many business owners wary to start the process of selling their company.
Selling a business is one of the biggest financial decision a business owner will likely ever make in their lifetime. If you are ready to look at the option of selling your company download our free report to learn more about this life changing decision.
Buying a Business…Where do you start?
If you have always dreamed of being an entrepreneur and are ready to be your own boss, it may be time to consider buying a business. Many people choose to buy a business so they can oversee their own destiny, be their own boss and see the full reach of their hard work and success.
- How do I start the process of acquiring an existing business?
- Where can I access the vital information to start this process?
- What sort of business would fit my unique needs and abilities the best?
- How can I find out what I need to know but don’t already know?
- Where can I get help with this process?
- Who can I trust to help me?
All these questions and more are answered in this whitepaper.
How to Choose the Right Business to Buy
Many people find buying an established business as a more appealing option than to buy a business from scratch. Choosing the right business to buy is not an easy process.
There are many questions you may have but these three important questions are vital to narrowing down the potential options and finding the best option for your needs:
- How does this company fit my experience, goals and unique skills?
- What services or supplies does this company sell and what is the business model?
- Is this company currently successful and what is the potential for growth?
This report will help you examine potential companies in depth and look into the pros and cons of buying an existing business as well as the option of buying a franchise business.
9 Steps to Prepare Your Business to Sell
If you have decided that it is not the time to sell your business, but it is something you plan to do in the future there are steps you can take to ensure top dollar. Many of these things will need to be accomplished over a period of time to bring the strongest business to the market.
The steps outlined can help demand a higher asking price for your business.
11 Step Process to Selling a Business
The process of selling a business is very complicated, especially for those who attempt this without a system in place or engaging the services of a professional business broker or business intermediary.
This report presents an overview of the step-by-step process of selling a business. This process should be followed closely whether you decide to sell the business yourself or if you engage the services of a professional business broker or business intermediary.
Is NOW the Right Time to Sell?
The best time to sell is when you are on top – either your company is riding high or the industry that you’re in is flourishing and everything points to next year being even better. This is when you will get the most money or the best terms for your business.
Selling a company at the right time is critical in maximizing a successful transaction. All too often, owners decide to sell without thinking through the question of whether or not now is actually the best time to sell. When you consider selling, you should consider the timing in terms of your readiness to sell and the market’s readiness to buy. However, sometimes circumstances do not allow you to choose the optimum time to sell your business