You have put a lot of time and effort into growing your business and now you are looking to sell. Your objective is to get the maximum price for selling your business, getting the best terms and finding the right buyer or looking for the best broker to sell your business; this article can guide you to do so following the next steps:
- Find a broker
Most companies will garner a higher valuation when sold using a broker. Besides, when having a broker complying the next steps with their help will be easier.
Some of the benefits of using a business broker includes:
Protection of your own and the identity of your business;
The sale process does not affect customers and employees.
The owner can continue to concentrate its efforts on running the business while the broker will be in charge on the sale.
A good broker will market your business intensively
The broker can guide the owner on the value of the business based on market price, similar business and his or her own experience.
Brokers do not charge upfront fees; they will be paid from the sales
proceeds, so they do their maximum effort to achieve the sale. - Determine what your business is worth
A business is generally worth a multiple of its profit. Depending on the size of the deal that can be 2-10 times profit. - 3. Prepare your financials with your accountant
Because a business is valued on its profit then good financials required. - Develop the executive summary of your business
This document outlines what the business is, financials and frequently asked questions to help the buyer make an offer. - Field offers from potential buyers
Receive offers from buyers and negotiate the best one. - Close the deal
Time to celebrate! Sign the final contracts and the handover process starts.
If you have a business in Florida and are thinking of selling it, here at XL Business Brokers, we can assist you throughout the process and make the best deal for your sale, quick and easy. Remember our business is selling businesses.
