Preparing to Sell Your Business

If you are considering selling your business there are a few things to keep in mind.  Keep operating the business as if you are going to be running it for years to come.  That mindset will ensure that the decisions made in regards to the operation of the business are the best for the longevity of the business.  Too many business owners “coast” when they know their businesses are for sale.  No individual can accurately pinpoint when a business will sell.  The average time from listing a business until the closing is usually 4-9 months.  Some larger more complicated businesses may take longer and some businesses sell soon after they are listed.

Keep your business neat and clean, always think of your business through the eyes of a potential buyer.  Look at your business as if you were going to buy it.  Do the grounds look neat?  Is the inventory organized?  The single most important aspect of your business to consider is the quality and accuracy of your books and records.  Buyers will pay a premium for a business that has outstanding books and records and on the other hand buyers will expect a deep discount on a business with subpar books and records.