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SAVANNAH, GA
37 West Fairmont Avenue
Suite 318
Savannah, GA 31406
Phone: (912) 925-2025
Fax: (912) 925-2091
Email This Office
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VR Business Sales|Mergers and Acquisitions
SAVANNAH, GA
Preparing to Sell Your Business
To achieve the best end result, smart business owners approach the selling process with the same planning and discipline that they use in the day-to-day operation of their business.
At VR we are acutely aware of what it takes to sell a business. Preparing the seller and aiding the seller in preparing the business to achieve the maximum gain from the sale are two important roles of the professional intermediary.
Key items needed to ensure a successful transaction include:
Provable books and records -- Buyers want proof of sales and profits the business has attained in the past. Having provable records will increase the number of potential buyers.
Reasonable expectation of price and terms -- Educated buyers only consider competitively priced businesses.
List of assets including furniture, fixtures, and equipment and a complete inventory -- Having lists or assets that can be referenced during inspection reinforces what the buyer will be purchasing.
Attractive lease -- Knowing the terms of assignment or of a new lease moves the buyer closer to making an offer.
Best possible appearance -- Business premises that are neat, clean and in good repair gives the buyer confidence that the business is well run.
Professional valuation of the business -- It creates a document that proves value to the buyer and shows the business to be competitively priced.
Covenant not to compete -- Preparing the terms of non-competition within an appropriate distance and for a reasonable period of time gives the buyer assurances that you will not go into competition with them because you know all the customers.
Specific reason for sale -- This could include retirement, burnout, and simply a desire for change. Buyers will want to understand the reason for sale and be comfortable that there is no undisclosed information that could negatively affect their investment in the future.
No surprises -- Most adverse situations, such as landlord problems, outstanding loans, tax arrears, unfavorable equipment leases and even non-compliance with zoning, health or other regulations can be overcome if known to your professional VR intermediary.
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