Posted in Seller Articles
Frequently Asked Questions: Why should you consider seller financing? So I have a buyer for my business – what happens now? Is there something I can do to help sell my business? What are business brokers and what can they do? How long should I expect it to take to sell my business? Why should […]
Selling a business is a hard decision and a very personal process. However, the process can be easier when you are prepared. There are many options when it comes to selling your business. Use his page to fully understand the plethora of ways to structure your sale and ultimately maximize your chances of success.
The biggest advantage of implementing an Exit Strategy in selling a business lies in simplifying the whole process. Instead of taking many big steps at once, a seller aware of selling their business is able to start in advance, break down the whole process into a number of actionable steps and incorporate them into daily activities. Not only is this way of selling a business very organised, but, more importantly, it also helps maximise profits. In essence, the Exit Strategy protects your greatest asset – your business – in a similar way insurance does.
Choosing a good business broker is a vital part of selling your business and thus should be treated very carefully. Below are some of the situations that may trigger your suspicion (and for a good reason). Experiencing any of these red flags may indicate that your search for a business broker needs to continue.
It makes common sense to surround yourself with the right team when building a business and, therefore, it should be a no-brainer to do the same when selling it. How? Work with an experienced business broker and you will go a long way in obtaining the highest possible price for all the years of blood, sweat and tears.
Selling/buying a business consists of numerous steps, so it may seem that signing the Letter of Intent resembles going into the last lap of a long-distance race. However, the seller should postpone their celebration a little longer, because the next step of the process is due diligence. It is in this stage when buyers really make their decisions about the deal. The information they are about to discover can steer the deal in any direction whether it is adjusting the price, going ahead or even withdrawing from the deal.
In an ideal world, the processes of merger or acquisition goes smoothly without any problems, however, that’s not the case in real life. Problems may and do occur and one of them is a confidentiality leak, or in other words, a situation when confidential information gets to the wrong hands. CEOs need to be prepared for this situation and have a contingency plan in place for such occurrences.
There are just as many reasons for buyers to buy a business as there are for sellers to sell. Being serious is likewise applicable to both sides – if a buyer has not made a firm decision to buy the business, the sale will not close. For illustration, some of the reasons to buy are: […]