… and it could also be your biggest pay day.
That’s why it is critical that the business is in the best possible shape to go on the market. As the saying goes “Get all of your ducks in a row” before you start presenting your business. Problem is, most business owners don’t know what the “ducks” or how to line them up (present them in the best light). It can take weeks, months but often years to go through this process. That’s why getting a regular appraisal of your business is so important.
Also, don’t under estimate how much you need to work on yourself as well to prepare YOU for the sale! There are a lot of things to think about before you sell.
Why are you selling?
What will you do after the sale?
What if the buyer wants you to stay on for a period of time?
When is the best time to sell?
What will you do with the proceeds from the sale?
What are the capital gains tax and personal tax implications?
And so on, and son on……
When you have sorted everything out, and you want to get the best possible value for your business and sell it confidentially, then engage the services of a good business broker.
For more on my ‘business ready for sale’ and business broking offering please click on SERVICES.