Tips When Selling Your Business

If you've decided to sell your business, there are a few ways to make the process easier. Check out this reference guide to

make the sale simple.

The ReasonPotential buyers will ask you WHY you are selling your business. Here are some common reasons:

• Retirement

• Boredom

• Partnership Disputes

• Illness

• Not Profitable

Not ProfitableIf your business is not profitable, it'll be a harder sell. Ways to make your business more appealing can include:

• Restructure Business Plan

• Increase Profits

• Consistent and Stable Income Figures

• Strong Customer Base

TimingWhen you think about selling, consider the timing and prepare at least one to two years ahead, this allows for:

• Improving Financial Record

• Gathering Business Documents

• Strengthening Customer Base

• Ease Transition For Employees

PricingTo determine a fair price for your business, you may want to hire a Business Broker to step in and handle the rest of the process. They can:

• Evaluate The Value Ratio

• Determine Seller's Discretionary Earnings

• Adjust Value Based On Market

• Understand The Health Of Your Business

Choosing A Business Broker

• The right business broker will have experience, expertise, motivation and determination. Conduct research and read testimonials about specific business brokers. Take for example Ace Business Brokers and check out Rick Carlson reviews to make a decision.

Negotiation

• When a potential buyer is interested in your business, your business broker will manage the negotiating process to keep both parties on track to reach the sellers goal at a fair price.

Paperwork

• Once the deal is made, you and your business broker will complete agreement paperwork. This can save time and hassle because they will know the latest laws and regulations to wrap up all the details.