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Place
A Reasonable Price On Your Business
An inflated figure either turns off or slows down
potential buyers, reply on your business broker to
arrive at the best "win-win" price.
An "unrealistic price" discourages many
buyers from even looking at a business.
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Carry
On "Business As Usual"
Don't become so obsessed with the transaction that
your attention wavers from day-to-day demands,
affecting sales, costs, and profits.
-
Engage
An Expert California Licensed Business Broker
A breach of confidentiality surrounding the sale of
a business can change the course of the transaction
and damage a business in the future.
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Prepare
For The Sale Well In Advance
A good business broker will prepare an offering
portfolio for the business to have ready for
qualified buyers. The business owners can help
in the process by "housecleaning" - as
well as a literal sprucing up of the facilities.
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Anticipate
Information The Buyers And Their Financing Sources
May Require
In order to obtain financing, the buyer will need
appraisal on assets. Lenders will require at
least three years of tax returns and the most recent
financial statement.
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Achieve
Leverage Through Buyer Competition
A good business priced properly many times will
create interest from several buyers and create a
competitive situation.
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Be
Flexible
Don't be kind of seller who wants all-cash at the
closing, or who won't accept any contingent payments
or an asset transaction. Depend on the advice
of your business broker - their knowledge of
financing and tax implications.
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Negotiate;
Don't Dominate
Your used to being your own boss, but prepared to
learn that the buyer may be used to having his way,
too. With your business broker's help, decide
ahead of time "when to hold and when to
fold."
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Keep
Time From Dragging Down The Deal
To keep the momentum up, work with your business
broker to be sure that potential buyers stay on a
time schedule and that offers and counter-offers
move in a timely fashion.
-
Be
Willing To Stay Involved
Even if you are feeling burnt-out, realize that the
buyer may want you to stay within arm's reach for a
while. Consult with business brokers to
determine how you can best effect a smooth
transition.
