Any buyer when they’re reviewing your business will have these questions to ask:
- What is the business’ growth potential?
- How can I grow the business?
- What separates your business from the competition in the marketplace?
- What are the variables involved in operating the business?
- How stable is the management and work force in place?
- Are there pending issues regarding the lease or real estate involved?
- What type of existing debts and other liabilities are present?
- Has the business been audited? Is all financial information on the business up to date?
- How much time do you spend at the operation?
As the seller, you should be ready to answer these questions. One of the elements of determining the fair market price of your business will come from whether your business has depth with management or is solely run by you, the owner. The buyer is going to be acutely aware of the time needed to be spent in the operation – whether they are going to have to spend 12 hour days at the business, 7 days a week, or can operate the business from afar.
VR Business Sales
will assist you in doing a thorough analysis on your business from your financial records to your intellectual property and goodwill as well as all operating practices.