6 Steps for Selling a Small Business
In commercial business sales National City, it is not just the buyer who does the investigation. Smart sellers strive to get a clear understanding of their business’s competitive position in order to set a realistic selling price. They also take time to identify the most suitable buyer. Selling requires carefully planning everything from cleaning your disorganized financial and tax records to updating the operating systems on your computers. When you come to us, we will do all this and then some.
At So-Cal Business Brokers, we are committed to making the sale seamless. We eliminate the guesswork and the hassle from the sale. We will help with everything from business valuation and setting the best asking price to marketing, prescreening buyers and helping with negotiations. With us, you will notice a faster closing than with any other San Diego business brokerage firm. Here are the six main steps we take when selling a business.
A third-party offers a more realistic estimate of your business’ worth. That is what we bring to the table in commercial business sales National City. We are a team of qualified valuation professionals that will review your business as well as its competitive environment. We consider everything from your sales to receivables to inventories and all your assets. We also account for your outstanding debts/liens to identify threats and opportunities that define value.
Clean your financials
Prospective buyers are looking for transparency. Buyers perform careful due diligence. We will conduct due diligence of our own on your business to ensure there are no red flags. In the end you will get clean financial statements and business tax returns that date back at least 3 years. We account for all your income.
Get your exit strategy ready
We prepare your exit strategy in advance. Our business brokers in San Diego will ensure you have a clear exit strategy that facilitates the transition once you sell.
Improve your sales
Buyers are more interested in a thriving business. We will help boost your sales diversifying your customer base and jumpstarting sales with increased promotions and marketing. We will also help identify and eject bloated inventories and get your operating systems up to date.
After listing your business, we don’t let just anybody in. We understand that most small business transactions are paid for in part by third party loans which are backed by the U.S. Small Business Administration (SBA). One of the things we do before letting a buyer in is to make sure they have the means to finance the acquisition. Can they get the SBA loan? Buyers also sign an NDA to ensure confidentiality is maintained.
Ready the business contracts
There are many legal considerations in commercial business sales National City. We ensure all the paperwork is done. We will help with the asset purchase agreement, legal contract for the business sale and so on. You never have to worry about the paperwork when working with So-Cal Business Brokers.
We are here to help you sell fast and at maximum profit. Contact us today and schedule a free consultation with our experienced business brokers.