Tip #138: Really? It can’t be that hard to sell a business!

cartoon putting a sign out to sell businessSelling a business can be a challenge to find that perfect buyer. There are several important steps:

  1. Computing a fair valuation to determine a price that will sell.
  2. Preparing a presentation with detailed descriptions and financials.
  3. Confidentially advertising to the marketplace.
  4. Negotiations for a favorable price, terms, and a host of other items.
  5. Working with the right attorneys to get the transaction closed.

It is recommended that business owners work with a business broker/intermediary to help them through this challenging and sometimes complex journey.