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Monday, May 04, 2009

How to Prepare Your Business for a New Owner in Two Years
Today, a buyers needs confirmation of the business’ financial standing. This means solid and verified financial documents by an accounting firm. The most valuable ones come from updated and correct tax reports. You shouldn't be insulted if a potential buyer asks you to validate your records as he is only showing due diligence. 
 
Additionally, the appearance of your business is vital. Buyers like well-maintained equipment, clean facilities and current inventory that can be sold. You want the buyer to have an easy and positive decision by showing that your business is a proven money-making machine.
Peter King  5/4/2009 2:23:00 PM 

Comments :
Response to: How to Prepare Your Business for a New Owner in Two Years
Tuesday, May 05, 2009
Adam Sherholtz says
Business owners should plan for the sale of their establishment from day one and go through a process of "grooming" it to achieve optimum value. You should refine the operation so that it produces maximum profits. If you structure this in a way that ownership can be transferred with minimum impact on ongoing operations and profitability, there should be no problem when you're ready to sell.

Response to: How to Prepare Your Business for a New Owner in Two Years
Tuesday, May 05, 2009
Jackie Devino says
Business owners can also adjust costs, increase sales and margins as well as restructure and review other variables in preparation for sale. Sellers want to know everything under the sun, at least from my experience.

Response to: How to Prepare Your Business for a New Owner in Two Years
Tuesday, May 05, 2009
Elliott Reed says
I know that I am very diligent at keeping detailed, up-to-date accounts and records that are related to anything business-related such as contracts, customers, staff, leases, asset ownership etc. There are those out there that don't put a lot of time and energy into keeping good books, but it's important. Especially down the road if you decide to sell.
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