•  Personal assistance our specialty

Once you decide to market your business, it's usually wise to keep your
plans confidential.  If word gets out that you plan to sell, your
competitors will have a field day, and your suppliers, employees and
customers may become wary.  Both situations could adversely affect your
ability to continue in business and ultimately affect your selling
price.

You are busy, let us help you save time and help you select a buyer that fits your requirements !
 
 

HELP US HELP YOU SELL YOUR BUSINESS
 

• Your attorney, your accountant and your business broker will assist you in compiling the information needed.  Their efforts can increase the value of your business substantially and it might sell more quickly to a more motivated buyer.

• Prepare and present complete, accurate and neat financial statements, leases and other critical business agreements.

 

• Report all income (revenues) despite higher tax liabilities.  Be able to match and explain any differences.  This will have a lot to do with what you get for your business.

 

• If possible, focus on maximazing sales and minimizing expenses for 1 year or more prior to the sale & certainly for the period of time the business is for sale.

 

• Clean up the physical and financial appearance of your business before sale.

 

• If possible, consider selling to a buyer more interested in long-term value rather than a financial buyer, they pay more.

 

• When the economy and your business and industry is strong, is the best time to sell a business.

 

• You may want to notify key employees of the pending sale and offer a bonus to them if they stay, based on the price the business sells for.

 

• Before you place your business for sale consider having key employees sign confidentiality/non-compete agreements in case some of those looking at your business wants to hire them.

 

• If you are in a regulated industry, get regulatory approval in advance of the sale.

 

• Think about notifying the landlord of a possible sale if property is leased.  You know the landlord so use your best judgement. 

 

• If you own or lease the property, in advance of the sale, negotiate assumable leases with a guaranteed renewal period.  This makes the buyer feel more comfortable and makes life easier for you if the sale is contingent upon the buyer obtaining a lease from the landlord.

 

• When you have not stayed competitive, renegotiate your lease. 

 

• Consider increasing the role of key employees to reduce the businesses dependance upon the owner for its success.  Another reason for using confidentiality/non-compete agreements with these employees.

 

• Contine to run the business as if you were remaining indefinitely – because you will until it sells.  Continue minor expenditures (paint, reupholster & repair)  & maintenance so business does not appear neglected and looks like the on-going business it is.

 

• Disclose all material facts.

 

• Present a clear and credible reason for the reason you are selling the business.

 

• Consider a variety of terms that your buyers might want to purchase under.