Planning the Sale of a Business
Planning the Sale of a Business
The sale of a business, is something you as a business owner should carefully plan and manage months before putting it on the market. To start with, you should be putting yourself in the shoes of a potential buyer, who is looking for a business to buy, this means you should;
1.Clean up all the loose ends.
2.Minimize wastage in the business.
3.Have proper financial statements and projections.
By actioning theses three main things you will help the business sell, by being more attractive to buyers. So if someone was to step in tomorrow, the business should be able to run as well as if you weren't there. Things that you should be looking at;
> Review leases, make sure they don't set to expire while you're trying to sell.
> Having your customer/clients, invoices digitalized.
> A manual for unwritten rules & techniques.
Preparation is key in the process, and taking a step back months in advance before selling to make the improvements to the business, will only increase your chances of selling your business. On average Businesses take 9 months to sell, with a large percentage of sales before this falling through because of a disagreement over price, or buyers getting cold feet. So With the help of an accountant, and business broker, and comparables on websites like canadabizmart.com, you should be able to arrive at a realistic valuation, with the help to guide you through a smooth sales process.
Planning the Sale of a Business - To learn more about this author, visit Andy Dun's Website.
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Selling a business is one of the more important things any business owner will do in their lifetime. Years of physical & mental effort has been invested into building the business, so finding the right buyer to pay the right price is important, but an undertaking in itself.
The sale of a business, is something you as a business owner should carefully plan and manage months before putting it on the market. To start with, you should be putting yourself in the shoes of a potential buyer, who is looking for a business to buy, this means you should;
1.Clean up all the loose ends.
2.Minimize wastage in the business.
3.Have proper financial statements and projections.
By actioning theses three main things you will help the business sell, by being more attractive to buyers. So if someone was to step in tomorrow, the business should be able to run as well as if you weren't there. Things that you should be looking at;
> Review leases, make sure they don't set to expire while you're trying to sell.
> Having your customer/clients, invoices digitalized.
> A manual for unwritten rules & techniques.
Preparation is key in the process, and taking a step back months in advance before selling to make the improvements to the business, will only increase your chances of selling your business. On average Businesses take 9 months to sell, with a large percentage of sales before this falling through because of a disagreement over price, or buyers getting cold feet. So With the help of an accountant, and business broker, and comparables on websites like canadabizmart.com, you should be able to arrive at a realistic valuation, with the help to guide you through a smooth sales process.
Planning the Sale of a Business - To learn more about this author, visit Andy Dun's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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David AchesonDavid Acheson is the founder of DCJA Consultancy. DCJA Consultancy is a management consultancy business specialising in B2B sales consultancy. They offer bespoke and packaged sales consultancy including Sales Optimisation Review, Interim Sales Management, Sales & Marketing Review, 1:1 Sales & Management Staff Analysis, Management Training, Solution Sales Training, Creation of New Pay Plan, KPI's, run Customer Feedback Campaigns, assist with Recruitment, Coaching, Appraisals and set up Strategic Marketing Campaigns. David spent his early career in accountancy and then moved into sales in 1982, working in Office Equipment, IT, Advertising, Training, Outsourcing and Consultancy. He has held many Senior Positions in SMBs and Global Organisations including Head of Sales Operations & Head of Business Development. His knowledge, skills and great experience of the Sales Industry has led to David making keynote speeches and running educational sessions to key businesses through organisations including The Chamber of Commerce and Business Link. - Visit David Acheson's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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