When you are ready to sell my business Shelter Valley, the next thing you must do is talk to a professional. It may seem easy to sell a business but there are so many things that you have to do before getting to the closing table. Often times, simple mistakes such as not being able to provide the requested documents will cause the deal to fall through. Working with an experienced business broker in San Diego will guarantee that you never make mistakes and that you sell fast and for the best price. Away from that, the business broker will teach you how to give the right answers to the following questions.
Why are you selling the business?
As you sell my business Shelter Valley, the buyer will want to be certain you are not disposing a sinking ship. That is why they will ask about the reason for selling. If your reason is not satisfactory, most buyers will walk away.
Your valid reason for selling may not be satisfying to a buyer. That is why your business broker will often take time to listen to your reasons and give you a better answer. The broker will first identify the ideal buyer for your business and work with you to come up with the best reason for selling.
Is the business profitable?
Another important thing you have to do is prove to potential buyers that the business is profitable. The question on profitability is among the first questions buyers will ask. When answering this question, a verbal response will not be enough. You will have to provide financials to back your profitability claims. Your business’ revenue, cash flow and profit & loss statements will help a buyer know if your business is profitable.
Does the business have experienced staff?
Buyers will often frame this question this way; can the business thrive without you? If you don’t have trained and experienced buyers, chances are the business will collapse as soon as the new owner takes over. The case is the same if the business is over dependent on you, the owner. As you get ready to sell your business, start by taking yourself out of operations. You should have the right team in place so that your business will operate optimally even in your absence. You also need the right employees in the right positions earning the right wages/salaries.
Is the lease transferrable?
Last but not least, a buyer that is interested in the location of your business will want to make sure that the lease is transferrable. As you get ready to sell my business Shelter Valley, discuss with your landlord to make sure the lease will be transferrable. If it is not transferrable, you will lose potential buyers.
There are so many other questions you will have to answer as you sell your business. An experienced business broker in San Diego will ensure that you never give wrong answers.