Selling a Business –
What does it take when it comes to selling a business? For one reason or another, business owners will arrive at a time in their life when they need to transfer their ownership rights to another person or entity. IF YOUR BUSINESS HAS POSITIVE CASH FLOW, DON’T EVEN THINK ABOUT CLOSING IT! (It amazes me that some business owners believe closing is their only alternative for an exit!). Maybe you‘d like to retire, or maybe it’s time to pass the family business to the next generation. Industry experts estimate one third to one half of businesses owned by Baby Boomers will be transferred in the next few years. Interest rates are low and the overall business climate has improved. Buyers are gaining confidence. You want to maximize the value you get from your business. With the tsunami of business approaching their sale, there is a real need to make sure that your business is ready. Developing a business exit strategy will allow you to have a well thought out plan for the succession or transfer of ownership of your business. Don’t wait to the last minute and ask yourself “How am I going to sell my business”?
Selling a business can be a very complex process not only for the seller but the buyer. We know through research that 55% of individuals buying businesses in today’s market are first time business owners. Now more than ever, business owners need to put their best foot forward when selling their business with the market becoming more and more saturated with opportunities on the rise. My view may be a bit slanted but I believe your best alternative is to align yourself with a good business broker. Believe me, I’ve sold businesses with and without a business broker and learned first hand the value that a business broker brings to the table. Not only can they benefit you financially but you will experience much less stress, have the ability to concentrate on more important things in your life and maintain your sanity. Knowledge differs from wisdom and wisdom is often gained through experience.
Chris Kerth begins the sales process by offering a Free, No-Obligation Market Analysis and we only get paid when the deal close