3 Tips for a Fast Business Sale
Hiring an experienced business broker Lake Forest is the first thing you need to do when you want to sell a business. At So-Cal Business Brokers we believe we have the most experienced brokers in the business. Our brokers undergo continuous training and they have a lot of experience selling business of all sizes and in virtually all industries. What is more is we have an in-house team of transaction attorneys, financial advisors and accountants who will smooth the process. Even with all this support, there are three things we believe you have to do in order to sell your business fast and at maximum profit.
Price it right
In our experience selling business across Orange County, pricing a business right is the key to achieving a prompt sale. If you get the valuation wrong, your business might never sell. The first thing our business brokers Lake Forest do is perform a business valuation. Our valuation is not just based on text book calculations but also on market trends. We look at the price businesses that are similar to yours sold for before using the valuation report to set an asking price.
Always remember that buyers will perform their own research on your business. If they realize that the appraisal is not accurate, you will lose their trust and you may never sell. Our job at So-Cal Business Brokers is to ensure this never happens. Our valuation is thorough and we will help price the business right before listing it.
Get your key documents and financials ready
The asking price is not the only thing buyers look at. To determine if yours is a suitable investment opportunity, they will go through your records. To avoid slowing down the process, you need to gather all the key documents and financials well in advance. Our business broker Lake Forest will help collect the relevant documents, clean them and organize them in a manner that wins the confidence of potential buyers.
In the due diligence stage, buyers will want to sell the following:
- 3 years of accounts including balance sheets and profit and loss
- Inventory lists
- Supplier and customer contracts.
While preparing these documents, our in-house team will identify any weaknesses well in advance and prepare suitable answers to the questions buyers might ask.
Present your business in the best light
Last but not least, you need to present your business in its best light if you want to sell fast. Our business brokers Lake Forest will help take great photos of your business to present to buyers. We will also help cut out operating non-essential costs and make a good first impression. We put ourselves in your buyers’ shoes.
Schedule a free consultation with our experienced business brokers in Orange County to learn more about selling a business and how we can help you sell fast. We are always happy to hear from you.