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Three Ways To Make Your Business Easier To Sell
It’s time. You’ve dreamed of a business, got it going, put in long hours to make it successful and now you want to literally cash in and go on to the next big thing in life. Congratulations! Now what? How do you make your business easy to sell?
These three tips will help get your business in the best shape to sell:
- Know where to look for buyers. Just like a product, you need to know your target demographic. Figure out who that buyer is and target your selling efforts to that sector of business buyers. Make sure to cater marketing materials to their needs. Targeting your search will save time and show that you’re serious about finding the right buyer.
- Set up the business for growth. Nobody is going to buy a business with no future. Strong financials and a clear plan for sustainability or expansion will help attract the right buyer. Make sure that the path for growth is attainable and allows for the new owners to easily plug into the business.
- Know your worth. It should go without saying, but it’s important to know the value of the business that is for sale. Research the industry and see what other similar businesses are selling for across the country. Also know your specific terms for selling. It’s not uncommon for there to be certain terms for the sale aside from the cash transaction. Will you keep a certain amount of stocks? Do you want your management team to remain in place? Know what your terms, both financial and conditional are acceptable.
A qualified business broker can help with the lofty task of selling a business. By being tapped into the market, we are ready to place a company for sale quickly and effectively. Contact us, Sunbelt Business Brokers of Durham, if you’re interested in selling a business.
