Past years have been a rollercoaster ride for various businesses. While some companies are mildly disrupted, some suffer extreme hardship, and others have benefitted in numerous ways. For owners who want to exit on a high note (or cut the losses), selling the business can be the wisest decision. However, deciding how to sell your business is not an easy task. It can be a challenging and time-consuming venture that requires several considerations. From planning thoroughly to evaluating the business value, many things need to be assessed and optimized to get your business ready for sale. We know how much time and effort an owner spends building a business from scratch. Once you understand the best ways to sell a business, you can choose a solution to sell at the best possible price and terms. We want you to get everything that you deserve!
This is a list of the crucial steps you must consider to effectively prepare your business for sale.
5 Steps: How To Sell Your Business In Today’s Marketplace
Wondering about some of the best ways to sell a business? Here are sequential steps that are crucial for selling your business:
- Determine Business Value
Many entrepreneurs have no idea of the value of their business, or, worse, have estimates that are grounded in wishful thinking and not actual comparable sales. Before you set a price that is too high or too low, it’s advisable to engage a valuation expert. An independent third party valuation process is unbiased and determines a supportable opinion about the value of your business. Our specialists use a range of techniques while keeping up with variations between businesses, sales volumes, profitability and industries to determine the accurate value of your business. Consider a business valuation EARLY in your process; it answers the question “What is my business worth?”
- Know The Reason for the Sale
If you want to find a potential buyer for your business, you should have an understandable and acceptable reason for selling your business. While some buyers want a profitable business, other buyers Many want a business that has problems which they can solve. Our best business brokers understand how to best position your business strengths, opportunities and problems for optimum business value. We adhere to the highest professional business brokers standards. These can help you sell your business faster and for more money. We understand how to make your business appear more attractive.
- Determine the Right Timing
Prepare for the sale by maintaining financial records, strong employee team, and diverse customer base to make the company most profitable. It would help if you prepared an exit plan one to five years before selling your business. Identifying and implementing improvements will simplify the buying and selling process by building a positive brand image of your business. Making your business desirable to many buyers is one of the best ways to sell a business. Contact us to help prepare your business or after you have completed your improvement steps. Whichever way you choose, contact us for a faster sale.
- Brokers Can Help You Achieve your Exit Plan
Finding an ideal buyer meeting your expectations for your business sale, is not easy. So, if you want to get the most, you should consider seeking help from an experienced, competent broker. Our best business brokers can help you with access to the broadest number of potential buyers to whom you can make a sale. Adam Noble Group LLC is here to facilitate your selling process by providing you with all the information and assistance you need. You can discuss your expectations with our brokers, and we will plan the sale process accordingly.
- Finalize Legal Documents
Gather your tax returns and legal documents dating back three to five years. Identify any personal benefits paid by the business, as well as any non-recurring income or expenses. Also, make a list of equipment that will be sold with the business and provide any relevant paperwork, such as the existing lease. Create a contact list related to customers and suppliers. Identify and have available any other crucial documents. Finally, the same way you would detail a car before a sale, you should also ensure that your business is presentable.
How to Sell your Business Faster and at Best Price with Us!
The sale of your business often puts the biggest check of your life into your hands. While the steps are not that complex, they can be detrimental to your sales price and terms if are left unaddressed. If you are considering a future exit or maybe are planning to sell your business now, we are here to help you every step of the way. From planning and business valuation to confidentially selling your business at the right price and terms, we can be your ultimate partners. We are here to assist with the complete process of appraisal of the business. So, contact Adam Noble Group LLC today!
During 3 decades of M&A service, Jeff Adam has successfully completed the sale of over 700 businesses and advised or completed 1,000’s of business valuations and exit plans. An entrepreneur in his own right, Jeff has started and grown 12 companies in fields including international finance, B2B services, business valuation, construction, screen printing, Mergers & Acquisitions, engineering, and manufacturing. Jeff has donated his time as a distinguished speaker at numerous national & international conferences since 1977 covering topics such as environmental services, engineering, media, craft breweries, exit planning, business valuation, charitable giving, management, business brokerage and M&A fields.
Jeff is President of Adam Noble Group, LLC, a national M&A Advisory firm, professionally valuing and confidentially selling profitable businesses owned by exit-motivated business owners to qualified strategic, corporate, private equity, partners, management, and first-time buyers. Jeff establishes rapport, builds trust, and educates business owners in the steps to meet their goals as they prepare and achieve the discreet, confidential exit of their business. Jeff exclusively represents sellers of $1M-25M value enterprises and endeavors to transfer their businesses to qualified, capable acquirers who will build upon the seller’s vision, goals, culture, and history. Jeff maintains lifelong repeat and referral relationships with sellers, their acquirers, and service providers.
Adam Noble Group has multiple M&A and business broker specialties: Manufacturing, Defense Industry, Oilfield services, Construction trades, Craft Breweries, Partnership Buyouts, Manufacturing, Service, and Wholesale Distributors.
Our M&A advisors and business brokers are all multi-industry entrepreneurs who have successfully exited their own companies. Jeff has walked in your shoes! Jeff wants to put the BIGGEST CHECK of your life in your pocket! Please contact Jeff, and he will confidentially answer all your questions.