It is time to sell your business and a harder task than you know if this is your first business sale. Getting your business ready to sell can be done pretty quickly. Questionnaires for preparing to sell a business are all over the Internet and can consume and waste a lot of time. This page is here to break it down into a high level offering. Accountants and a closing attorney take care of the lower end details.
The very first thing you need to write is an “Executive Summary” Most people get stuck here thinking they have to write a complete report on the industry trends and market statistics etc… This is completely wrong.
State clearly as you can what your business is about followed by your earnings before taxes listed as a %. Example: The company has a staff of 26 with earnings before taxes of 17% with a stable business cycle.
The executive summary is just that. If you have more than 4 paragraphs you have started writing a report. Break it down, take details out. Details go in the main body of the business offering, sometimes also called a prospectus depending on the organization of the company..
Shop your company with business brokers and listen to what they say is missing. Revise your business offering. Consider this level of activity as your draft development process getting to the final business offering. This will help you with pricing your business.
1 Call Service approaches this from the technical perspective in tuning up your website and looking at your operating costs of services. Tweaking here can
greatly improve the profitability picture to a buyer who sees coming in that his/her situation is going to be better.
Get into the document what contracts for services are costing and when those expire. Unless your buyer is coming from corporate America they probably already have a business running and may be able to leverage existing services they already have and roll yours into the mix. An immediate savings for the new buyer. Make it easy to figure out for them.
Add a section for what the new business owner could do to improve the business as it will exist when sold.
Feel free to contact our office for a phone or in person appointment to discuss your business.