Aug 16, 2014

Posted by Shanell Calloway in Business | Comments Off on Why Hire Business Selling Experts?

Why Hire Business Selling Experts?

Selling a business is not like selling a home. It is complicated and stressful. The road ahead is filled with major potholes and roadblocks that will frustrate you and possibly kill a deal. It doesn’t have to be this way. You need advice and help to prepare your business for sale, advertise it, prescreen the buyers, and negotiate a deal. This can be provided by business selling experts. Rochester MN is a small city of just over 100,000 people and presents challenges to sell a business due to its size. But it is not impossible. A business broker can help you in 5 areas.

1. Prepare Your Business for Buyers to Examine
You need to assess your business financials. As a small business owner, you cannot just present your income tax return, as proof of profits due to the many deductions and tax breaks allowed by the IRS. You will need to prepare an Income Statement that shows the cash flow and adjusted net profits. Consult with your accountant for the proper format. Remember, buyers seek profits, not goodwill.

2. Create an Attractive Sales Package
This is the age of email. Essential information must be presented to a potential buyer that includes the Income Statement for the past three years; the location and type of business, the terms of a sale, and why the owner wants to sell the business.
The package should be divided into three parts.

* The first response to an inquiry should be no more than three paragraphs of general information and a request for a NDA.

* The Non Disclosure Agreement (NDA) is a pre-screening device to ensure the buyer is serious about purchasing a business and to protect the seller’s privacy.

* The complete package is sent by email with photos, videos, and financials.

3. The Seller Should Offer Financing
Your business selling experts will be able to properly vet the buyer for their credit score and determine if the offer will allow the buyer to pay off the note and secure a decent income while servicing the debt.

4. Advertise
Times have changed. Who reads the newspapers these days? The business selling experts will advertise on highly respected websites that search engines can locate quickly. This will negate the small size of Rochester by reaching a much wider audience of buyers.

5. Close the Sale
Your business selling expert will earn the commission by completing the sales process with due diligence, follow up with financing details, and contracts properly prepared to protect the buyer and seller alike. This is the area where roadblocks are likely to occur during the negotiating and transactions. Don’t do it alone. Have a broker on your side.

Need a business selling expert? Visit www.sunbeltmidwest.com for information related to preparing and selling your business. It will take nine months or more to sell your business. Seek the counsel of their experts to ensure a quick, low stress sales process.

Share

    Pin It on Pinterest

    Shares
    Share This