How to sell a small business
Selling a business is not easy, but a little knowledge about how to sell a business can go a long way towards reducing the time, risk and expense and maximizing value. Before you go about selling a business, however, the first step is to determine if selling a business will provide that which you desire.
Owners don’t decide to do things without a reason, so ask yourself what it is that selling a business will do for you.
Here are common reasons to sell a business:
- Necessity, such as inability to continue managing the operations
- Freedom, from the responsibility and time and financial demands
- Risk reduction, because you are at a time in your life when security is of more value to you than entrepreneurial risk
- Timing, such as when value is at its highest
As with any decision or transaction of significance, it makes sense to get good advice from persons with specialized experience in the topic at hand. In this case, the topic of selling a business or how to sell a business.
The Wayfaring Strangers Business Blog know that selling a business is fraught with peril for the business owner. Don’t fall prey. Contact us at firstname.lastname@example.org or visit our blog for weekly updates.
Selling your business means cashing in on your years of hard work and sacrifice. Buying a business offers an opportunity to expand, along with the assumption of risks. In both instances, the final price represents a significant cash commitment.
Nevertheless, the price you think you are getting or paying can be dramatically affected by how the transaction is taxed and the assumption of known or unknown liabilities. That’s why the prudent buyer or seller analyzes all aspects of the deal, as well as the net after-tax cash received or paid.