The minute you decide to sell your business, you have two choices. You can proceed immediately, offering it for sale in its current condition, realizing you may need to make price concessions to account for unaddressed weaknesses. Or, you can plan and prepare for your sale to strengthen your business, increase its value, and make it more appealing to a broad base of prospective purchasers.
There is no doubt in my mind that you are providing your professional services to us and doing a great job of it. My goals are to close on My Capital Letters, get it transitioned and spun up in the new owners hands… then begin growing my next venture. As soon as the P&L is good, it will be for sale next. You have that seat.
– Terry Peterson –
Deciding When to Sell
Make sure you have a valid reason for selling your business.
The first thing a prospective buyer will want to know is the reason you are selling. The more valid the reason you offer the better. If you do not have a compelling reason for selling, then that will remain in the back of the buyer’s mind and impact their perception of the quality of your business.
Don’t wait until you have to sell, whether for economic, health, or emotional reasons.
You don’t want anxiety to force you into accepting a deal that’s not good for you. Or, on the other hand, anxiety driving you to face prospective purchasers in an almost hostile manner. That does not work for anyone’s benefit.
And even worse, is the seller who retires “standing in place” at their business only to see sales and profits creep downward. If you don’t have the same energy and commitment that you once had to run your business, then recognize that fact and sell when you have something to sell.
Don’t let your business slip because you are selling.
Buyers and lenders will request current financial information. It’s important that the performance levels used to value your business are maintained. It is best to approach the process as if your business is not for sale. Make decisions as if your ownership were continuing into the future. Buyers will quickly perceive if you are already half way out the door.
LET OUR EXPERTS HELP YOU PREPARE YOUR BUSINESS FOR SALE.
Why Choose Us?
When you are ready to plan the sale of your business, your first step is choosing a brokerage firm you can trust. At Charleston Business Brokers, we have the experience and tools to prepare your business to successfully sell on the market. We have served hundreds of clients and established a reputation in Charleston as an experienced team with a high level of integrity. A broker is extremely valuable as you begin preparing your business for sale. As experts in the industry, they know what buyers are looking for, applicable laws and regulations, and the best tools for a successful sale. Our associates possess these qualities and more! Our guiding principles of integrity, honesty, and the highest level of ethics make us a quality team you can trust.
As our client, we will walk you through every stage of preparing your business to sell. Discover what your business is worth and what you need to do to maximize value. We will help you find the people and resources you need to build value and complete the transaction successfully. We understand you may be ready for an exit, but your business isn’t. Take steps to prepare now before burnout sets in and you will see a much better return. Our collection of resources and collective knowledge will help you glide through this process in an efficient and timely manner. You are our top priority and providing exceptional results is our main goal. Partner with Charleston Business Brokers and let us get to work for you!
When you’re ready to get started or have questions, contact us! Complete the form below and we will also send you a copy of our Business Sales Fundamentals guide. Start on your path to a successful partnership with Charleston Business Brokers!