Is it time to sell? Selling your business is a major decision!
You have devoted your time, money, and energy to building, running, and operating your business. It may well represent your life’s work. If you have already decided that now is the right time to sell, you want the very best professional guidance you can get.
This is when working in tandem with a professional business broker can make the difference between just getting rid of the business and selling it for the very best price and terms!
What Buyers Want
This may be a bit premature if you have not decided to sell, but it may help in your decision-making process to understand not only who the buyer is, but also what he or she will want to know in order to buy your business. Here are some questions that you might be asked – and, should be prepared to answer:
🔹How much money is required to buy the business?
🔹What is the annual increase in sales?
🔹How much is the inventory?
🔹What is the debt?
🔹Will the seller train and stay on for a while?
🔹What makes the business different/special/unique?
🔹What further defines the product or service? Bid work? Repeat business?
🔹What can be done to grow the business?
🔹What can the buyer do to add value?