Sell My Business - 7 Must Ask Questions

Selling a Business is an involved process; it will take longer than you think. Do not delay starting when you have determined it is time. Weigh the positive and negative points in relation to: Selling or not selling. Once you have decided to sell lots of questions will arise.

7 Must Ask Questions when I want to Sell My Business:  

• Why am I selling?
• What is the asking price?
• When is this the right time to sell?
• How do I reach out to buyers?
• List on line and sell myself or list with broker?
• Should I hire a lawyer?
• Should I keep sell confidential?

All these are difficult and overwhelming questions that will have to be addressed. Answering the questions will give some relief from feeling of being overwhelmed, not knowing where to start. After working through these questions you will be able to make a educated decision.  Remember there is large numbers of businesses sold every day so it can be done and in a comfortable manner when you find answers to the questions. Selling your company may be the most important business decision you ever make.

You may be getting burned out! May be time to retire, time to start something different, sell take capital and try a new vision. There are lots of reasons to sell just make sure you are doing it for the right reason and one you are comfortable with.

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Sell My Business - 6 Steps to Sell a Business

Are you considering selling your business? If so, you need to start getting your business ready. The good news is if you take the time and get it ready, the business will attract buyers and sell for top dollar.  Not taking the time to get the facility and accounting in proper shape will cost the seller money. A business will have greater value if a few details are taken into consideration.  So how can you win when you sell the business? Here are a few tips that will head you in the right direction so the value will be the highest possible, (added value).

1. Importance of first impression.  Looking at a business is the same as looking at a house, if the building does not have a clean comfortable look, buyers will not take a second look. Make some cosmetic changes and clean up, then you will enjoy showing your business off and buyers will respond in same.
    
2. Start your plan. There are two basic ways to start the process putting your business on the market, list on web, sell yourself or list with a Broker.  Seek out and interview Brokers, until you are comfortable with the knowledge and ability of the Broker you choose. Brokers can be a valuable to coach and help with the process and will be worth their cost if you do not understand the process or if you do not have the time or feel comfortable with your knowledge of the process.  If you choose to sell yourself, once you have your business in order, list it on more than one web site like Bizlocal.com. Chose at least two web listing sites and use the information on these sites. A seller packet can be found on these sites. The seller packets will provide the work sheets needed to work through the process of preparing a business for sale.  These sites are designed to make selling a business yourself as simple as possible even though it is not simple process, large numbers successfully sell their business each week.  Brokers list businesses on several web sites, giving maximum exposure.  The more buyers that view your listing, the more likely a buyer will be found.  There are two basic types of buyers. Those who are looking to buy a fixer-upper and those looking to buy themselves a job.

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Sell My Business - Insider Secrets to Structure The Deal

Selling a business can be difficult and costly if sell does not understand the options. You have more options than they may realize. Not doing your homework and taking the wrong approach has serious financial consequences for the seller and company, so it pays to know the positive and negative options.

The simplest way to exit a business is probably an outright sale. This approach makes sense when an owner’s family members have no interest in taking it over or when the owner can’t figure out how to take the company to the next level, meet challenges that may have arisen, or just getting burned out.

There are two ways to cash out: An owner can sell the company’s assets outright, or he can sell his stock in the company (or units if it is a limited-liability company). Stock sales tend to benefit the seller, while asset sales are more beneficial to the buyer.

Asset buyers are getting the company’s customers, facilities and physical equipment, as well as intangibles such as goodwill and trademarks, and as a result the buyers are generally protected against prior claims against the business. For example, the previous owners would most likely be responsible if an employee hired on their watch filed some sort of lawsuit plus other types.

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Top Businesses to Survive 5+ Years

You've hear it said, that 90% of business fail in first 4 years.  There's been a lot of research, and argument on that specific statement, however no one can dispute that failure rates are extremely high.  So what if we looked at over 5 years, as a benchmark.  If a business model is more likely to be in business past the 5th year, then it would merit some consideration.  At the very least, a short review to consider WHY they make it past 5 years.

1. Religious Organizations
2. Apartment Building Operators
3. Vegetable Crop Productions
4. Office & Clinics of Medical Doctors
5. Child Day Care Services

source: http://www.statisticbrain.com/startup-failure-by-industry/

Keeping the Faith

Number 1, religious Organizations, like it or not, often file for a form of licenses within their jurisdictions. While they may be represented as a Church, Mission or Community Outreach program, these organizations depend on regular revenue (contributions) and are least likely to disappear within the first 5 years. I am the last person to suggest that religion is a business. In fact, mixing religion and business often spells trouble. None the less, statistics indicate religious organizations to have the best life-expectancy. Success is built on Faith. The faithful followers continue to return, keeping operations... operational.

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