Preparing to Sell Your Business

                            What you should know to sell your business

1. HAVING PROVABLE BOOKS AND RECORDS INCREASES THE NUMBER OF POTENTIAL BUYERS

Buyers want proof of the sales and profits that the business has made in the past. 

2. EXPECT A REASONABLE PRICE AND TERMS

Usually; buyers won't even look at a business that is not priced competitively.

3. LIST FURNITURE, FIXTURES, AND EQUIPMENT

Buyers will want a complete list of equipment and will inspect it to ensure that everything is in good working order. 

4. OBTAIN A PROFESSIONAL THIRD PARTY VALUATION

Businesses that use a third party valuation have an 80% chance of selling at a much higher price.  Those who do not use a professional business intermediary and a third party valuation only have a 17% chance of selling.  Click here to see Professional Valuation Services. 

5. OFFER ACCEPTABLE LEASE

Any buyer will want a good lease, whether the existing lease is assigned, or a new lease is written.  Our team of business intermediaries will work with you, the buyer, and the landlord, if necessary, to put together an acceptable lease.

6. GREAT APPEARANCE

Nice looking businesses sell first!  Buyers deduct large amounts from their offering price for businesses that are in less than top shape.  Keep your premises neat, clean and in good repair.

7. PRICE IT RIGHT

Under pricing will lose you money; overpricing will lose you the sale. Our professionals are knowledgeable in today's fast-changing marketplace. We recast financials and present to you a Market Value Analysis to help you determine what is the best price and terms for your business.   Click here to see What is My Business Worth? 


8. SIGN A COVENANT NOT TO COMPETE WITH THE BUYER

Buyers are concerned you may go into competition with them and take back all their customers. A promise not to compete within an appropriate distance and time period is normal for most businesses. 

9. A GOOD REASON TO SELL

Buyers are always concerned about this.  They are afraid you may be selling because of some undisclosed fact that may hurt the business in the future. Buyers must see a logical reason for the sale or - without it, they think the worst. 

10. NO SURPRISES!

Give your VR in Clearwater business intermediary ALL the facts up front.  Most negatives can be overcome if known by the business intermediary from the beginning.

To learn more about selling your business, Call VR in Clearwater (727) 499-6500 or                       Click here to contact us