10 Things You Need To Know When Selling Your Business

Exit plan. Don’t even think about selling your business unless you have an exit plan in place. It’s important that you know what’s next after you sell your business.

Another trend to avoid business bankruptcy is to search out angel stockholders. Stay solvent help that appears too good to be true. If it looks to be too straightforward, there could be some type of catch. You will have to pay a commission of 8% to 12%, but a Business brokers online will help you price the business correctly. A Business brokers in thailand online will also market the business for sale, qualify potential buyers, and work to get the deal to closing. A good broker will significantly increase the chances that you will sell your business.

Initial Consultation – You will have a one-on-one via phone or in person with a broker in your area to discuss all of your questions and concerns regarding the business buying process. Our brokers are trained to help you with Business brokers online concerns as well as personal concerns. We realize that this is not only a financial decision, but a lifestyle decision as well.

Making your business ready for a sale: This not only involves making your premises looking good but also your numbers in your balance sheet or profit & loss accounts.

Partners are necessary for two things. Either they will supply you with capital or they will provide you with skills you may not have. The latter is a better reason for a partner and a combination may work as long as you are going in with an even money 50-50 deal. I don’t recommend picking a partner based on their bank account. You will most likely have major problems within 12-18 months. Trust me, I’ve been there.

Hire a broker. If you don’t have the time nor the patience to look for potential buyers, I recommend that you hire an experience business brokers online who’s got great selling and negotiation skills. This person will be in-charge of advertising and selling your business so you can just relax during the whole process. You will need to pay your broker up to 10% of the purchase price.

Professionals are a form of service business; except they charge a higher hourly rate and they have to keep patient/client files. Most people pay their professionals by credit card or check, because these expenses are usually tax deductible as medical or financial advice. If the seller doesn’t declare all the income, ask what back up records there are. Clients always get receipts for services and payments. There are records, find them and you will have all the income.

Valuation. You will need to have a solid idea about how much is your business worth. Things to consider are your sales and cash flows, your position in your chosen industry, the popularity of your business, your total revenue, and your assets and liabilities.

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