Now Is the Time to Sell the Business

Many business owners who have considered selling their businesses have waited for the economy to get better. While that does not appear to be certain on a global scale, there are several buyers in the market for businesses. Buying an established business is much more cost-effective than constructing a new one. Entrepreneurs, especially those who have never owned a business before, are willing to suffer losses, as long as the losses are not excessive.

Get a Commercial Broker

Now just may be the ideal time for selling a business. Owners wanting to retire, try something new, relocate, or go back to having a boss will want to make a consultation appointment with a commercial broker. An experienced broker can provide information about the current trends in the market, discuss interest in your particular type of business, and make suggestions to help add value to the business.

The broker can also conduct a valuation that will maximize fair market value. Many intangible assets are missed or disregarded by independent valuation professionals and real estate agents. Hundreds of variables can contribute to the overall business value.

Build Up the Business

Buyers and investors are not seeking businesses that will fall apart when the owner leaves. They typically want a business that will continue to thrive. Management personnel, human resource staff, and an exceptional administrative assistant will make the business attractive to buyers.

Strengthen relationships and connections to suppliers, vendors, and customers. A positive view of the business, combined with loyalty, means the customer base and the accessibility to materials will remain after the sale. That is important to buyers because it allows for a smooth and profitable transition.

Appearances

Do not underestimate the power of appearances when preparing a business for market. Pay close attention to every detail. Start with the space around the business entrance. Does it need landscaping? Does the signage have to be replaced? Is it welcoming enough to make a powerful first impression? Here is an excellent benchmark. If you would not purchase the building as is, fix it because no one else will purchase it either.

Determine what catches the eye when people enter the interior. If it is colorful, pleasant, and positive do not change it. If it is cringe-worthy, make a dramatic change. There are many things owners can do to expedite the sale of a business. Become proactive to minimize the anxiety of selling your business and start another chapter in your life.