There was a study done, years ago, that showed that the reason businesses were for sale had a direct relationship to its probability of sale. Reason for Sale %Reason for Sale %Probability of Sale Retirement 10-15% 30-35% Health Problems/Death 15-20%…
Many people who are selling their business think that once they find a buyer, the business is sold. Unfortunately, the real work is just beginning. Once a buyer is interested, there are the inevitable questions that must be answered. After…
Prepare for new management. As soon as you make the decision to sell, begin doing what you can to help the business run “on its own.” The business should not, especially now, be just you! Accept the financing facts. You’ll…
Selling your business is a major decision! You have devoted your time, money and energy to building, running and operating your business. It may well represent your life’s work. You have decided that now is the right time to sell,…
If you’re considering selling your business, and you are employing a professional business broker or intermediary, it’s imperative to be absolutely open with him or her. This is not the time for secrecy — or even for subtlety, especially when…
1. Not knowing what the business should sell for One of the most costly errors a business owner can make is not knowing the approximate price of his or her business prior to entering the selling process. Although the marketplace…