This is your FREE guide to help you sell your business
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Figure out the Best Times to Sell Your Business and How it’s Done?
Selling your business is a major decision and we hope this step by step guide helps you.
You have devoted your time, money, and energy into building, running, and operating your business. It may well represent your life’s work. This in-depth guide is intended to inform you on the most common topics and questions frequently brought up by sellers and buyers
THIS GUIDE COVERS
- Is it really time to sell?
- The first steps
- Must have checklists
- Tips on figuring out potential buyers
- What buyers are looking for
- Things you can do to make your business attractive to buyers
- Inside top tips shared by EastWind’s Tim Fawcett from years of experience helping owners sell their business’
This is your FREE guide to help you sell your business
We take your privacy seriously! We will not, in any circumstances, share your personal information with other individuals or organizations.
Have a Sneak Peek What’s in the Guide
What should I be asking myself?
Question 1 – What is my Business Worth?
The first question almost every seller asks is: “What is my business worth?” Quite frankly, if I was selling my business, that is the first thing we would want to know. However, we’re going to put this very important issue off for a bit and cover some of the things you need to know before you get to that point – things that will help you get the maximum value for your business
Question 2 – Do I Really Want to Sell the Business?
The second question you must consider is: “Do I really want to sell this business?” If you’re really serious and have a solid reason (or reasons) why you want to sell, it will most likely happen. You can increase your chances of selling if you can answer “yes” to the second part of this question: “Do I have reasonable expectations?” A “yes” answer to these two questions means you are serious about selling.
Insider Tip
It doesn’t make any difference what you think your business is worth, or what you want for it. It also doesn’t make any difference what your accountant, banker, lawyer, or best friend thinks your business is worth. Only the marketplace can decide what the value of your business is.
Get a Copy of the Full Guide For All the Great Tips
Full of great tips and inside information that can help you get ready to sell your business.
Your First Steps
Okay, let’s assume you have decided to at least take the initial steps toward selling your business. Before you even think about placing your business for sale, there are some things you should do first. The first thing to do is to gather information about the business.
Must-have Information Checklist
The second question you must consider is: “Do I really want to sell this business?” If you’re really serious and have a solid reason (or reasons) why you want to sell, it will most likely happen. You can increase your chances of selling if you can answer “yes” to the second part of this question: “Do I have reasonable expectations?” A “yes” answer to these two questions means you are serious about selling.
- Four years’ profit and loss statements
- Income tax returns for the business
- List of fixtures and equipment
- The lease and lease-related documents
- A list of the loans against the business (amounts and payment schedule)
- Copies of any equipment leases
- A copy of the franchise agreement, if applicable
- An approximate amount of the inventory on hand, if applicable
- The names of any outside advisors
Notes
If you’re like many small business owners, you’ll have to search for some of these items. After you gather all the checkist items, you should spend some time updating the information and filling in the blanks. You most likely have forgotten much of this information, so it’s a good idea to really take a hard look at all of it. Arrange all of the checklist items in a neat, orderly format as if you were going to present them to a prospective purchaser. Everything starts with this information.
This Guide Also Includes
Identifying your buyers
Who they are, and why they would buy your business
Creating Buyer Profiles
How creating the proper buyer profile can help you position a business for sale
Finding what Buyers Want
Tips and insights on what buyers are looking for in a business
Appearances Count
Things you can do to help increase the value of the business
Everything Has Value
Some of the obscure things in your business can add to the value
Eliminating Surprises
Be ready for some of the curve balls that buyers will throw at you
Hidden Gotchas
We’ve done this before and we’ve identified the “gotchas” for you
Insider Tips
Some of the extra little things that can turn into great value boosts
Questions?
Many business owners have approached me feeling the same way you do right now. EastWind can help you plan for what comes next.