How to Prepare for a Successful Transaction
Commercial business sales Carson are considered for all manner of reasons. At So-Cal Business Brokers we get clients with all manner of reasons for selling. The most common reasons include:
- Tired and frustrated with the daily operations of the business
- Desire to move into retirement
- Desire to have more free time to spend with family or manage other life obligations
- Struggling with finances and feeling overwhelmed
- Selling was always the endgame
Whatever reason you want to sell your business for, we highly recommend that you start preparing for the sale early; at least three years in advance. In our experience, the transition is the most overlooked aspect of the sale. Well-planned transitions can mean the difference between the continued success of the business and a struggling new owner. You don’t want your old business to fail after sale, do you? Here are key questions we advise you consider when considering commercial business sales Carson.
Is the business transferrable?
When getting ready to sell, this is the question you have to ask. By looking at your business’ structure, our in-house team will help you determine if your business is transferrable. The first thing we recommend you do is remove yourself from daily operations. Our business brokers in Los Angeles will help train a new management team or help hire a qualified manager. Documenting standards, procedures and processes will also guarantee that your business thrives under new ownership. We will help with this too.
What role will you have after the sale?
There are three vital questions we recommend you answer in order to determine your role once the business sells:
- Do you need a small or large role in the transition period?
- How complex are the business operations and service offerings?
- How small or big is your business?
Providing training to the new owner is crucial to attracting new buyers and guaranteeing the continuity of your business after sale. Most businesses require assistance and support from the previous owner. At So-Cal Business Brokers we list at least 2 weeks of training with the sale of business.
What will you do after selling?
Still on getting ready to sell you will need to have a plan on what to do once the sale is concluded. How will you use the money earned from the transaction? In most cases entrepreneurs get bored and end up starting a new business. The key is to have a plan on what to do next after selling.
So-Cal Business Brokers has your best interest at heart. We are here to help you make the most informed choices throughout the sale. To learn more about our services schedule a free consultation today and talk to one of our experienced business brokers on matters commercial business sales Carson. We have your best interests at heart.