After working hard to get your assembly business to the level it is right now, you want to get the best return on your investment when selling it. This is why you need to involve the services of the best business broker for assembly companies Orange County. In this post, we shall be looking at the key things your business broker will insist you provide in order to sell for maximum profit.
Books and records
Just like in court, when selling your business, buyers pay attention to what you can prove and not what you claim. This is why when getting your business ready for sale, your business broker for assembly companies Orange County will insist that you provide them with all your financial books and records. Doing so helps increase the number of potential buyers since buyers want proof of sales and profits that your business has attained over the years.
Reasonable price and terms
Having built a business from the ground up often brings a lot of emotions. These emotions can cloud your judgement. Some business owners end up being convinced that their business is worth more than it actually is. As a result, the unrealistic prices they set end up pushing buyers away. To guarantee a successful sale, you must be objective. Your business broker in Orange County will ensure that your business is competitively priced.
List of assets
Buyers want to know what they are buying. That is why you must include a complete list of assets in your sales packet. This should include the fixtures, furniture and equipment. These assets must be available for inspection by potential buyers.
Favorable leases and contracts
One of the reasons your business is so successful is because of where it is located. Buyers know this. As a result, buyers want to be certain the lease can be transferred to them. The case is the same when it comes to the contracts. Buyers want to see all the existing contracts with employees, suppliers, distributors and other important parties.
Covenant not to compete
It would be detrimental to a buyer if they purchase your business only for you to setup a similar business across the street. Some buyers will want a non-compete agreement drafted and signed.
There is nothing that turns buyers off more than betrayal. This happens when you are not being honest. If a buyer finds you were hiding issues like pending legal issues, bad equipment leases or tax bills, you may lose their trust. When this happens, buyers pull away and never come back. Your business broker for assembly companies in Orange County will ensure there is complete transparency without over-sharing.