Selling a business isn’t a decision you make lightly, but you want to make sure you benefit from this change. Our business brokers bring exceptional negotiation expertise so business owners like you can sell for the highest price. Discover what this complex process entails and how you can get the most out of it.
Selling a Business - Tutorial
How to Approach a Business Sale
Our brokers assist business owners in Utah, Nevada, Idaho, and Wyoming looking to sell their companies, many of whom have no idea what to expect from the process. A successful sale has many moving parts that begin long before you complete any seller registration forms. Find out what the early steps of selling involve.
Start Exit Strategy Planning in Advance
You need several prospective exit strategies before you can move forward with any formal sale. Do you anticipate staying on temporarily to help with the transition? Are you looking to receive the final sale price immediately or continue to oversee operations as part of an earn-out deal?
The longer you wait to begin planning, the fewer options you have for selling a business. Brainstorm strategies far in advance before you begin looking for a buyer.
Focus on Market Positioning and Accurate Business Valuation Measures
You might not be in the right position to sell depending on the current market. Team up with a trusted broker to find your business’s market value and discuss how this might affect your timeline. A proper business valuation will give you insight into how much you can receive for selling.
Maximizing Sale Price with the Right Buyer
Many business owners make the mistake of reaching out to competitors and informing them about putting the enterprise up for sale. While this might seem like an easy solution to sell to an eager buyer quickly, you risk missing out on extra funds.
Working with an experienced brokerage firm allows a wider net of prospective buyers to learn about the business. Generating more buzz around your business creates eager buyers which can ultimately lead to higher bids. Brokers can also help you sort through interested parties to find the best one for your business.
Ideal buyer qualifications include:
- Previous experience owning a small business
- Sufficient financial resources
- A passion for running their own business
- The ability to make tough decisions
Selling to a qualified buyer can leave you with no regrets over your decision.
Assemble Different Resources to Navigate the Sale
Selling your business involves complicated legal and financial steps. Along with a broker to help you with planning and finding buyers, you should partner with a financial advisor, tax accountant, and attorney to make the transaction seamless.
Connect with Business Brokers of America for Help Selling Your Business
While selling a business can seem daunting, Business Brokers of America can make the process less stressful. If you’re looking to sell your business, reach out to our team to develop a plan and find the ideal buyer. Contact us at 801-935-8919 to speak with a specialist about moving on from your business.
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