So often in thinking about selling a business we think about the ‘Process of Selling a Business’, ‘Am I ready’, or ‘Do I have the right Broker’. It is easy to lose sight of a couple of key items in selling our business that influence how you may look to a buyers; keep these three…
There are various approaches to selling a business and the following will provide one framework that is typical. The purpose is to help potential sellers understand the process and to assist in the questions you may have as they begin to think about selling their business. Step 1. Preparation Prepare an Introduction Letter or Marketing…
Business Brokers are looking for ‘qualified sellers’- those whose business is in good order, financially sound, and in demand by prospective buyers. At the same time potential sellers should also look to ‘qualify’ business brokers or agents. Here are a couple suggestions on how to qualify a business broker/ agent. 1. Do you know the…
You have likely heard about Sellers Discretionary Earnings (SDE) but what is it? In practical terms think of SDE as the following: What does a business owner take home or how much ‘benefit’ and income do they make on an annual basis? What does a buyer see as the financial benefit they can make from…
Should you use a business broker or agent to sell your business. The following ten questions will provide some perspective if you should be thinking about ‘going it alone’ or working with a professional to represent your business for sale; 1. Have you sold a business before? 2. Do you know the process of selling…
You’ve decided that you want to sell your business. You may not know when you want to sell it or how you’re going to sell it but you want to begin the process of understanding how do I sell my business. Below are six items to think about as you consider selling your business. 1….
