When is it time to sell? Selling your business is one of the most important decisions of your life. Think of all the time, money, and energy you have put into building and operating your business. For most business owners, this sums up a considerable portion of your life’s work. Do you believe now is the right time to sell? Please give us a call or send us an email and a business broker from LevelUp Equity will promptly and confidentially respond back to you. Be diligent and seek a professional business broker. Your business is worth exactly what someone is willing to pay for it. The key is not just showing value, but also being able to clearly convey and prove value!
There are a number of factors that go into this. What you need to remember during this process is your business is only worth what someone is willing to pay for it…and that’s it. It’s critical to negotiate terms and conditions that will maximize your return on your hard work and investment.
Here’s a basic checklist of items:
– Three years federal Income tax returns for the business
– Three years profit and loss statements
– List of equipment and fixtures
– Copies of equipment leases
– Lease and any lease-related documents
– If applicable, a copy of the franchise agreement
– Approximate amount of inventory on hand
– Appraisal on property (if you are selling this with the business)
It is very important to present the business clearly and honestly. If certain numbers look less than ideal; don’t worry, we can help identify and clarify as we review. Buyers want to see cash flow! If there is real estate in the deal, we can assess and merge both the business and the real estate.
Buyers can come from all kinds of backgrounds and lots of tire-kickers out there that will even try to buy your business with no money down! You always want to go with a seasoned business broker that believes in absolute confidentiality, a signed NDA and an understanding of a potential buyer’s ability to purchase the business. There are a number of different profiles for potential buyers, but having a professional business broker represent you can significantly reduce wasted time and lost revenue.
