Business Broker Alberta
  • Home
  • Resources
    • Business Brokers
    • Time to Sell
    • Seller Financing
    • Selling My Business
    • Buyer for My Business
    • White Papers
    • VR 5 Step Process
    • Complete Guide to Selling Your Business
  • Contact Us

We sell Businesses...
We bring Opportunities
​

Another 10 tips for a successful business sale

4/5/2013

0 Comments

 
Picture
  1. Be reasonable about the price of your business. Inflated expectations interfere with your business intermediary's ability to negotiate the best price for you.
  2. Continue operating your business as usual. Don't become so obsessed with the transaction that you ignore day-to-day demands. Your prospective buyer will need to see a healthy, functioning business, not one suffering from neglect.
  3. Keep the sale process strictly confidential. A breach of confidentiality surrounding the sale of a business can alter the transaction dramatically. Any potential purchaser looking at a business for prospective purchase must sign a confidentiality and non-disclosure document. Your business intermediary should prepare such a document for you.
  4. Prepare for the sale well in advance. Be sure your records are detailed and complete for at least the past few years, and do all pertinent legal or accounting housecleaning as well as a physical sprucing up of the plant or office.
  5. Anticipate information the buyer may request. In order to obtain financing, the buyer will need financial statements, asset lists, year to date financials etc., plus information to satisfy any environmental regulations that may apply.
  6. Achieve the highest price through buyer competition. Since this can be tricky, you're advised to let your intermediary, as a third-party, create a competitive situation with buyers to position you for the best transaction value.
  7. Be flexible. Don't be the kind of seller who wants all cash at the closing, or who won't accept any contingent payments or an asset transaction.
  8. Negotiate, don't dominate. You may be used to being your own boss, but the buyer may be used to having his way too. With your intermediary's help, decide in advance when to hold and when to fold.
  9. Keep time from dragging down the deal. To keep the momentum up, work with your intermediary, your accountant, your lawyer and other experts who may be required to be sure that potential buyers stay on a time schedule and that offers move in a timely fashion.
  10. Be willing to stay involved. Even if the process has been exhausting, realize that the buyer may want you to stay within arm's reach for a while. Consult with your intermediary to determine how you can best achieve a smooth transition from owner to past owner.
0 Comments



Leave a Reply.

    Categories

    All
    Business Valuations
    Buying A Business
    Buying A Business
    Deal Summary
    Exit Planning
    Selling A Business
    Selling A Business
    Vr Business Sales News
    VR News
    VR News

    Our Bloggers

    Jey Arul, MBA, CBI
    Siew Cheng, Ph.D
    Ryan Jorden

    Archives

    October 2015
    May 2015
    April 2015
    March 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    June 2013
    May 2013
    April 2013
    March 2013
    February 2013
    January 2013
    October 2012
    September 2012
    August 2012
    June 2012
    May 2012
    March 2012
    January 2012
    December 2011

Contact Us

AJS Advisory Partners Inc
phone: 780-469-4769
jey@vralta.com
  • Home
  • Resources
    • Business Brokers
    • Time to Sell
    • Seller Financing
    • Selling My Business
    • Buyer for My Business
    • White Papers
    • VR 5 Step Process
    • Complete Guide to Selling Your Business
  • Contact Us