Selling a business
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Sorting out the “right” buyer is best left to the professionals who have the experience necessary to decide who are the best prospects.
We’ll provide you with a long list of benefits that helps your business stand out in a crowd and sell for top dollar.
When it comes time to sell, most owners of the small to mid-sized business gravitate toward this buyer. Many of these buyers are mature (aged 40 to 60) and have been well-seasoned in the corporate marketplace. Owning a business is a dream,and one many of them can well afford. The key to approaching this kind of buyeris to find out what it is they are really looking for.
The buyer who needs to replace a job is can be an excellent prospect. Although owning a business is more than a job, and the risks involved can frighten this kind of buyer, they do have the “hunger”–and the need. A further advantage is that this category of buyer comes with fewer “strings” and complications than many of the other types.
Selling a business at any price is a tough proposition, so standing out in the crowd to attract qualified buyers is the key to making a successful sale by making your businesses get noticed and sell for top dollar.
You only have one chance to make a good first impression on a Buyer. Exposing your business offering to Buyers, while protecting your confidentiality.
Your business’s identity is hidden, and only the facts necessary to generate Buyer interest are presented. Buyers must sign a Non-Disclosure and Confidentiality Agreement, provide a financial disclosure and Buyer Profile and interface with a us before they can obtain your Business Profile.
HowLong Does It Take to Sell a Business?
Recent studies indicate that it now takes, on average, about eight to ten months to sell a small business. This figure seems to increase yearly. Why does it take so long to sell a business?
Price and terms are the biggest reasons! It is very important not to overprice the business at the beginning of the sales process. A business will also sell more quickly if there is a reasonable down payment with the seller carrying the balance. Having all of the necessary information right from the beginning can also greatly reduce the time period. Finally, being prepared for the information a buyer may want to review or having the answers available for the questions a buyer may want answered is another key.
Here is the basic information a prospective acquirer will want to review and a seller should have prepared to help facilitate a quicker sale:
- Copies of the financials for the past three years.
- A copy of the lease and any assignments of the lease fromprevious sales.
- A list of the fixtures and equipment that will be includedin the sale. Note: If something is not included in the sale, it is best toremove it from the premises prior to the sale or at least have a list thatspecifies which items are not included.
- A copy of the franchise agreement, if applicable, or anyagreements with suppliers or vendors.
- Copies of any other documentation pertaining to the business.
- Supporting documents for patents, copyrights, trademarks,etc.
- Sales brochures, press releases, advertisements, menus orother sales materials.
In addition, here are some key questions that buyers may likely ask. A prepared seller should have ready answers and information to support those answers.
- Is the seller willing to train a new owner at no charge?
- Are there any zoning or local restrictions that would impactthe business?
- Is there any pending litigation?
- Are any license issues involved?
- Are there any federal or state requirements, orenvironmental OSHA issues that could affect the business?
- What about the employee situation? Are there key employees?
- Are there any copyrights, secret recipes, mailing lists,etc?
- What about major suppliers or vendors?
A prepared seller is a willing seller, and having the answers to the above items can significantly reduce the time it takes to sell a business.
Sell a business
Monthly Lease amount
No of employees
Your reason to sell
Using the services of a professional business broker can also greatly reduce the time period. Business brokers are knowledgeable about the current market, they know how to market a business, and they can advise a seller on price and terms. They can also recommend professional advisors if a seller doesn’t have them already. Using advisors who are transaction experienced can also shorten the time it takes to close the sale.