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How Can a Broker Help with the Timing of a Business Sale?
As the owner of a company, you already know that timing is everything. That’s also true when it comes time to sell the business to someone else so that you can move on to another chapter in your life.
Preparing for the sale of your business as soon as possible is important for getting maximum revenue from the sale and having an easy experience, too. Ideally you’ll have up to two years to prepare for the sale. This preparation period helps you to improve your overall financial picture, your customer base and the loyalty with the people who do business with you, your vendor relationships, and your business structure.
These improvements help you to paint a very strong picture for an ideal buyer. It also keeps the business running in a very smooth manner and makes the transition as easy as possible.
The worth of the business is something that you can impact. You’ll want to determine the business worth to ensure that the price is not listed too low or too high. A business appraiser should be used to document the valuation of the company. The appraiser will look at the current picture of the business.
Once you get a valuation, if you determine that the number the appraiser came back with is not high enough, you can choose not to sell the company if you want to improve conditions. If you spot opportunities to grow your numbers and put together a more compelling picture for the company to be sold in the future. This is why it pays to start the sale process one to two years in advance so that you have time to make changes to the company.
If you notice, for example, that you have the chance to improve your overall traffic or your customer loyalty numbers, this is your opportunity to implement programs that can make things better so that you can boost your company’s listing price.
A business broker is essential in this process because it can be hard to interpret the business valuation results on your own. If you’re tempted to sell your company now, a broker can give you the objective opinion to know if this is the right move for you right now or not.
If you’re in a hurry to sell the company, you might need to move into the sale process immediately after valuation. When you’ve contacted a broker right away after making the decision to sell, you’re in good hands with an experienced professional who knows the landscape of selling a company in the current landscape.
If you tried to sell the company yourself, you might “save” the money paid out in a broker’s commission. However, a broker enables you to free up time and seek out the best buyer for the company given your individual goals. Our brokers know what it takes to maximize not just the money but the ease of the sale. Make time to speak to Website Closers before you list your company for sale- we’ll help you get the timing just right.