Do you have your Rose Tinted Glasses on?
You can only sell your business once. You do not get a second chance and you cannot go back and do it again. Most buyers want to pay the right price; this does not mean they want to pay as little as possible, just fair market value.
It takes a lot of hard work to build a business to a point where it is successful and if you have done this and now are thinking of selling it, there is no doubt you have a dollar figure in mind you feel it is well worth. Unfortunately all of your hard work doesn’t really matter if your business is not making enough money to warrant what you’re asking for or is poorly presented to a buyer to get them excited.
What you need a is an accurate reflection of what the market value of your business is going to be in order to determine a price that is going to be realistic. This is where utilizing the services of an experienced business broker can make a big difference in how this transaction turns out.
If the price is not what you expected it may not be the right time for you to sell. Or you may find that with a few changes to your business you will be able to get the sale price into the range that you are looking for. Sometimes all it takes is a few changes and this is what your broker is trained to help you with.
First impressions count. When it is time to sell it becomes even more important.
Consider things such as excess resources in the storage room (commonly called “Junk”) ,staff members not wearing full uniforms, worn paint work, out of date paper work , redundant stock and discretionary cost increases.
All of these things will be impacting on the first impression and need to be addressed well before you decide to sell. Ask yourself “do I have my rose tinted glasses on?” When you look at your business through Buyers Eyes you will be amazed at what you see and what you can learn about your business.
Check out what an experienced business broker can do for you well before you put your business on the market. Being well informed you can make better decisions, optimize the presentation and ultimately will see far better results at the end of the transaction.