Hiring an experienced internet business broker is obviously the first thing you should do when getting ready to sell your online business. You need someone that has sold several businesses that are similar to yours. That is what you get from So-Cal Business Brokers. We have been selling businesses like yours for more than 20 years now. We know how to find the right buyers and how to close at the best price. After hiring us, there are a few more things you will have to do.
Think over it
Not being sure on whether to sell is the most common mistake business owners make. Consequently, they end up pulling out of the deal prematurely. For starters, when you contact our internet business brokers, the first thing we will do is make sure you have a valid reason for selling. We only get paid after closing so we always make sure we are working for the right client.
Second, you must have a clear personal and business objective for once you sell. Not having a clear objective will make you second guess every decision you make. An exit strategy will help you know when to sell and what to do next. We are happy to help with this.
Get your financials organized
Buyers will want to take a look at your books. This is how they determine if yours is a worthy investment or not. As you get ready to sell, you will need to gather and organize your business records for the last two to five years. This should include profit and loss statements, tax returns, supplier and vendor contracts, customer data, leases, bank statements and so on. The job of our internet business broker is to make sure your paperwork is as clean and organized as possible.
Transfer the assets you will not be selling
To ensure you are giving the right details to potential buyers, you need to compile a list of everything you will be selling and what you will not be selling. You need to transfer assets that will not be sold before listing. Doing so will give the buyer a clear picture of your business’ cash flow potential.
Work yourself out of the business
Last but not least, you need to take yourself from the equation. If your online business is dependent on you, buyers may feel the potential of its growth will go away once you leave. To win their confidence, you need to work yourself out of the business. Document all systems and processes and train a management team to take over your roles.
As one of the most recommended business brokerage firm in the nation, we are here to make sure you sell fast and for the right price. Contact us now to schedule a free consultation with our experienced team of internet business brokers.