January 28, 2016
Due to its inherent complexity, selling a business usually takes about 12-24 months. To help navigate this complex process, it is important to understand what is important in securing a successful sale. First, hire a business broker to act as a quarterback for your company. Brokers are experts in business sales can help connect your business with interested buyers that will bid up the final price of your business, just like an auction. Their expertise also proves valuable in coordinating all activities necessary prior to finalizing the sale of your business.
Brokers can help guide you in readying your financial statements for presentation to buyers. This is crucial in stating your business’ profits attractively and accurately. A broker and attorney can also prove valuable in navigating negotiation and the terms and agreements of the sale. In total, if you are considering selling your business, it is important to be aware of the effort and time required to be successful.