Planning to Sell Your Business

Deciding to sell your business goes way beyond signing a listing agreement with a business broker and then waiting to hear from buyers. At least, it should.

Did you know that the first 30 days in selling are the most critical? Having buyers come to look at a business that isn't ready to be shown dramatically lowers the chances of it ever selling, particularly at the original asking price.

It makes sense, therefore, to prepare correctly the first time for selling so that once the business is listed it has the very best chance of quickly finding a buyer and moving into the transaction stage of the process with a fair offer and a qualified buyer.

Here are some of the things that we can help you prepare for showing the business:

  • List of assets with current market values
  • List of customers
  • List of vendors
  • List of current inventory and work in progress
  • Copy of current lease with terms
  • List of permits/licenses/other regulatory items needed for business
  • Three years financial records
  • Three years tax returns
  • List of leased equipment
  • List of assumable liabilities

Most of these won't be shown to a buyer until after an offer has been signed, but they are necessary to have ready, and they make the process of valuing and listing the bsuiness much easier.

In addition to the above basics, we also help in the preparation in a way that will add value to the business:

  • Assist in the preparation of a complete operations manual
  • Prepare a profit growth strategy report
  • Prepare a sales growth strategy report
  • Assist in helping maximize financial position for sale
  • Create a detailed transition plan for the new owner
  • Help "stage" the business for optimal presentation

The first list is what every broker should help the seller get (though many don't). The second list are things only we do that will help you get buyers excited and justify the highest possible price.

If you are interested in having us represent us in your business sale, give us a call and let's see if we can work together to make it happen.