Let it Go: What You Need to Know About Selling Your Small Business

January 28, 2016

business.com

There are many factors to take into consideration when choosing to part with your business.  Why are you choosing to sell?  The answer to this question is not only important to yourself, but also the buyer.  Framing an answer that is truthful yet complements the attractiveness of your business is critical.  

Should you try to sell your business on your own or should you take advantage of the services offered by a business broker?  Selling a business is a very complex process, especially for the average business owner that has very little experience with buying and selling businesses.  Brokers can help assist in the process while also freeing up your time so you can focus on operating your business so it remains attractive to buyers.

Brokers can also be helpful assessing the the organization of your financials so that they are accurate and appealing for buyers.  They know what buyers look for in businesses due to their experience in the business sale process.  Finally, it is important to accurately price your business with the help of a broker.  The transaction process will likely take around a year so be patient to ensure you are receiving a fair sale price for your business.