Business has ceased to bring you satisfaction? Do you want to do something else? Selling an existing business is a good way to make money. The cost and effectiveness of the sale is significantly influenced by the quality of preparation for the transaction.
If you have a large enterprise, take care of obtaining an audit report. Buyers carefully study all the documents. They will be helped by the availability of an opinion from the appraiser and auditor to make a purchase decision. There may be several buyers. You will significantly speed up the sale of a business if you collect all the certificates and documents in advance. Plus, you save buyers the trouble of doing their own checks.
Carefully review all concluded contracts. If you have signed a lease that is ending soon, it is worth renewing. Many people own real estate. In this case, it is worth contacting the BTI and get new certificates. Perhaps the value of real estate will be higher than the value of the business itself. Make copies of balances and all of its attachments. Get a certificate from the bank about the absence of debts. It is good to provide letters of recommendation. Conduct an invisibility assessment and an assessment of the business itself. Do this in several ways.
A marketing review will help increase the value of your business. It should indicate the market share that your company occupies, the market capacity. Please describe the product policy. Review consumers and competitors. The marketing plan should describe the services or goods produced. Provide customers with a valid business plan. It should include an analysis of the strengths and weaknesses of the business, an analysis of the resources and capacities of the enterprise. Analysis of the financial and economic condition is important.
Work through the various deal options ahead of time. This can be not only the purchase and sale of a business, but also a lease and purchase, takeover or merger. Prepare a package of documents. The buyer of your business will give them to their lawyers for preliminary examination. Write an explanatory note. This is an important point. Having a sticky note will help you drive a discussion with a buyer when some of your business's metrics are not doing well.
It is best to entrust sales preparation to professionals. The cost of services of such companies can reach 13% of the business value. Of course, this option is not very suitable for selling a small business. But this will effectively save money and effort when selling a business, the cost of which exceeds $ 100 thousand. Choose the company that not only prepares all the documents, but also takes up marketing and the sale of the business itself.
