General
Four Ways To Get A Business Ready For Selling
When it’s time to sell a business, where do you start? It’s a daunting task, especially if it’s the first time selling a business. There are so many parts to a company that need attention on a daily basis, and it’s hard to hash out a plan to prepare it for sale. It helps to break the process down into simple steps so it’s easy to tackle the task at hand.
Here are four ways to get your business ready to sell:
- Get finances in order. Make sure the business finances are as healthy as possible. Settle any outstanding contracts or anything that is pending outside of normal business dealings.
- Create a toolkit. Basically, gather everything the buyer will need. An employee guidebook is a great place to start, but also Include art files, customer details, information on key employees and all accounts you have (social media, memberships, storage units – everything). A buyer will want to know that they’re being set up for success and that the seller isn’t hiding anything.
- Make it pretty. Physically make the space appealing. If you have a physical location, deep clean it, remove tattered furnishings, make sure signage is in good order. Make sure it’s appealing to buyers. If the company is more web-based, freshen up its online presence. Update and edit the web site, make sure the social media presence is active, work on the site’s SEO and check for any bugs that may lurk on the site.
- Seek fresh eyes. Talk to trusted professionals in the know to look over the business as impartial parties. It’s a good way to see anything that might have been missed in the preparations. Objective, knowledgeable opinions will go a long way to giving the current business owners a good idea of the status of the business that’s for sale.
The team at Sunbelt Business Brokers can help you get ready to sell your Durham-area business. Contact us to get started.
