Common Mistakes Made When Selling a Small Business
When you want to sell my business National City, the first thing you need to do is familiarize yourself with the common mistakes sellers make. In our years of selling businesses at So-Cal Business Brokers, we have come across all manner of mistakes. Some of the worst mistakes include the following.
Waiting too long to sell
Waiting too long to sell or not planning in advance is the number one reason why most business owners miss their window of opportunity. Selling a business takes an average of 2 to 4 years. Long term planning is hence required. When you hire us, our team will get your business ready for the sale by improving your management, documenting your processes and making sure all the paperwork is in order. We will be available with updated records, detailed business history and sales portfolio; waiting for when the perfect buyer walks in.
If your interest is not to sell my business National City but rather to hand it over to a successor, So-Cal Business Brokers can help too. Our business brokers in San Diego will help you set up for success. We help with succession planning whether your successor is a relative or not.
Not finding the right team to represent you
Not every business broker out there has your best interest at heart. That is why you have to do your research before hiring a brokerage firm. So-Cal Business Brokers has been selling businesses for years and we sell an average of 2 businesses every year. We are the go to company because you only pay us once the deal is done; we help with advertising and prescreen potential buyers. We will also help buyers find financing. Our priority is to make the sale of a business hassle free and we have built a solid reputation on that. Contact us today to learn more.
Asking for too much or too little
An unrealistic price tag will lead to dead-ends. Your price tag has to be based on proof. Our team will perform a business valuation which helps us understand how much your business is really worth. We will also consider your industry, the economy, similar businesses and the marketplace before pricing your business. All this helps set the right price that doesn’t scare buyers and one that allows you to earn an attractive profit.
Selling to the wrong buyer
Taking the first offer and selling without doing some research on a buyer is unwise. Our mission at So-Cal Business Brokers is not just to help you sell fast and at maximum profit but also to ensure your business doesn’t collapse under the new management.
Do you really want to sell my business National City? We encourage you to schedule a free consultation with us. We are always happy to hear from you and help in any way we can.