Knowing when and how to sell any type of business means taking a look at the big picture. It also starts with a professional valuation that gives the owner a chance to consider what the fair market value of the business will be based on revenue, assets and customer base as well as other factors.
Additionally, it will also be essential to consider the industry and the growth potential for the business as well as the overall interest for a particular type of business among potential buyers.
There are a few tips that can help when selling my business. The key is to start early and work with a professional business broker to ensure the sale is managed, organized and provides the protection for your interests throughout the process.
Selling My Business Immediately
If you are planning on selling immediately, it is important to understand this is often a more lengthy process than a simple property sale. The number of potential buyers is limited for any type of business and niche businesses or businesses that are very small and have low annual revenues can be difficult to sell.
Most business sales will take 6 months to one year to plan, market and close on the sale. There are some businesses that will sell faster while others may take longer to find interested buyers.
Organize the Business
Your San Jose, CA business broker can assist in ensuring all paperwork and documentation required by the buyer is organized and available. If you are considering the sale, start by asking yourself about what a buyer would want to see. In selling my business, consider what you would want to see including profit and loss statements, business tax records and accounts receivables.
It is never too early to start planning for a business sale. Taking your time and working with an experienced business broker is the best way to make sure everything necessary for the sale is available and ready.
