Businessmen can receive income not only from the operation of the enterprise, but also from the subsequent sale of their business. If you have created an enterprise, but this area is no longer interesting to you, the business can be successfully sold. Proper preparation for the sale is essential.
Instructions
Step 1
To maximize your profit, you need to carefully prepare for the deal. It is best to get an audit opinion. This will make the selling process easier.
Step 2
When buying a business, interested parties carefully study all the documents submitted. Collect the package of documents in advance. Since there may be several buyers, it makes sense to inquire about the applicants, to assess their solvency.
Step 3
When preparing a business for sale, it is worth reviewing all contracts. Renew those that are essential. For example, it is worth renewing a lease that ends soon.
Step 4
Many enterprises own buildings in which production lines are located. Be sure to contact the BTI and take the information relying on the real estate. Prepare copies of balances and their attachments. It is worth taking a certificate from the bank stating that you have no debts. If possible, get letters of recommendation.
Step 5
The appraisal of a business and real estate assigned to an enterprise should be carried out using several methods. It is important to do a marketing review. When done well, it can significantly increase the value of a business. The review should include the following parameters: market capacity, market share occupied by companies and other indicators.
Step 6
It is very good if you can prepare a detailed description of the company's product policy. Be sure to attach a competitor and consumer overview to your documents. This information will be useful to buyers. In your marketing plan, provide a detailed description of the products or services your company provides.
Step 7
A valid business plan is essential. Buyers should see an analysis of the capacity and resources of the enterprise. In addition, the business plan should list the strengths and weaknesses of the enterprise. This is a very important point. Prepare also an analysis of the financial and economic condition of the enterprise.
Step 8
Please note that there may be several options for selling a business. This can be a lease and purchase, merger, takeover and purchase and sale of a business.
Step 9
After you provide the documents to the buyer, he will transfer them to his lawyers for study. It is recommended to draw up an explanatory note, which will reflect the significant points. When selling a large business, it is better to entrust the process of selling an enterprise to a specialized company known in the market for its experience in doing business. This will save you time and effort.
