Selling A Business? Who Do I Turn To…?
Do it yourself? This sounds good but confidentiality is extremely important to selling a business. A business for sale can disrupt the productivity of employees and the profitability of the business. Providing prospective buyers with company information without knowing anything about the buyers can be disconcerting.
A real estate agent? That would be like going to a floor installer and asking him to build your house. You will possibly need their services but they cannot possibly provide you all the tools and services you will need to get the job done.
A business attorney? Yes, you will need an attorney during the transaction but attorneys do not promote nor market and who wants to pay them by the hour to do so.
An Accountant? Accountants will compile and prepare financials for you but they don't valuate those numbers and like your attorney they won't network or market your business.
A Business Broker? The business broker will help you promote, market and sell the business but will need help to provide the additional services required to properly complete the sale and cannot do it alone. Most brokers will simply tell you to go get an accountant or attorney when the time comes.
The ANSWER is Revenue Avenue because you will possibly need the services of all four.
Revenue Avenue's revolutionary approach of providing you all the services under one roof will give you a simple road map to follow to help you get your business sold.
"Revenue Avenue Business Brokerage paves the road to your success!"
What Steps Do I Need To Take To Sell My Business?
1. Set a sales price.
There are a number of factors to take into consideration to determine what your business can sell for. The first factor is assets. Assets include real estate (if any), inventory, furniture/fixtures, accounts receivables and any other tangible items that have cash value. The second factor is good will, ehich will have little to no good will unless there is some proprietary nature to the business. The simple question is what would it cost to set up the business from scratch versus the profitability of the business.
If the business is currently not profitable then the business will have little to no good will. It will be worth the value of the assets in their current condition and the cost of setting up the business but in most cases no more than that.
Revenue Avenue can provide third party services to help you valuate your business.
2. Prepare financials.
In order to sell a business, a good buyer will want to review the financials of the business. The more verified information a seller provides the more unknowns are eliminated. Remember unknowns are a bad thing for buyers and will cause your sales value to drop. Be prepared to provide tax returns, profit and losses, and other financial documents to show buyers.
Revenue Avenue has accountants waiting and prepared to help you get your financials together.
3. Keep your business going.
Selling a business takes time. If you want to get the most from your business sale then operate the business as usual. Don't ignore the day-to-day operations. If your business sales and profit decrease while the business is being promoted for sale it can cause the business value to decrease.
Let Revenue Avenue worry about selling your business so you can focus on maintaining it.