Mistakes to Avoid When Selling a Business
The first point you need to bear in mind when you want to sell my business Laguna Woods is that proper planning can mean thousands of extra dollars in your pocket. You must never be in a hurry to sell. At So-Cal Business Brokers we can manage your sale and make sure you are taking the right steps and making the best decisions. In our experience selling businesses, there are four very common mistakes we have seen business owners make.
Failing to plan ahead or waiting too long to sell
Waiting too long to sell and not planning in advance is the main reason why most business owners miss their window of opportunity. Considering it can take up to four years to sell a small business, we highly recommend that you start planning early when you want to sell my business Laguna Woods. Long-term planning is the key to a successful business sale. What this means is that you need to start keeping updated records, detailed business history and sales portfolio on hand at all times. Our team will help gather the relevant documents, clean them and present them in the best light.
Failing to hire the right person to represent you
Some business owners think that any business broker in Orange County will be enough to represent them. That is not true. Business brokerage firms are not built the same. Some brokerage firms will only list your business and move on to the next client. This is not our approach at So-Cal Business Brokers. We don’t just list your business; we will follow up to make sure that the listing is getting the desired attention. What is more is that we will help you get your business ready for sale, pre-qualify potential buyers, plan closing and also help buyers secure financing. When you bring us on board, we will take over the sale so that you can focus on the core operations of your business.
Asking for too little or too much for the business
Unrealistic price tags can lead to dead-end streets. Remember that buyers will do their own research before committing to buy your business. When you want to sell my business Laguna Woods, we encourage you to work with us. We will perform a business valuation to determine the actual value of your business then help you identify your business’ threats and opportunities. We use this information to portray your business in the best light.
Selling to the wrong person
This is a very common mistake business owners make. Selling to the wrong buyer means you will either not end up with the best offer or your business will die right after the transfer of ownership. So-Cal Business Brokers always prequalifies buyers before letting them in. We will also help you know if the best offer is on the table or you should wait. We also find buyers whose vision of your business aligns with yours.
Are you ready to sell my business Laguna Woods? Schedule a free consultation to talk with one of our experienced business brokers in Orange County. So-Cal Business Brokers is a leading brokerage firm with your best interests at heart.