Tips for a Successful Sale
Provide your
Business Pro with detailed information about your business, its operations and
the related financials. Help them
understand what sets your enterprise apart, without highlighting its dependency
upon YOU. A prospective purchaser
or investor will want to know how the business will prosper under their
stewardship.
Review the
information you furnished for the listing agreement for accuracy, thoroughness,
and reason-ability. Would you buy
this business at this price?
Check for
encumbrances you may have against your business. Will they be paid prior to closing or do
they need to be paid at escrow?
Often many have been paid and lenders have not removed the
liens.
Provide your
Business Pro with all the tools needed to sell your business. These include a complete list of the
fixtures and equipment included in the sale, an accurate financial picture
including all sources of income, personal, one time or non-necessary expenses
that a buyer might not incur, and a copy of your lease or property
description. Be assured that this
information will be held in strict confidence.
Your business
broker can best show your business when you are not pressured by nearby
customers or employees. Be prepared
to explain the history of your business, the opportunities for future growth,
why you are selling and what you will do after it is sold. Prospects are always interested in what
your typical day is like and the duties of each
employee.
If a
prospective buyer returns to your premises to discuss price or terms with you,
he/she is trying to weaken your selling position. Simply inform them that all discussions
must be through us. You have
employed us to handle all aspects of this
transaction.
Top shape commands top price, meaning time to clean, paint, and repair. Your business is in competition with other businesses for sale and the best value will sell first.
Your “Main Street” Business
Broker