Are you planning of selling your business? You need to ensure that everything is in place for you to sell the business at the right price. To help you out here are some of the questions that you should ask yourself as a business seller:
The buyer will also assess your financial condition which includes: tax returns, payroll records, financial statements and depreciation schedules. If there are any employees in the business the buyer will like to know about their employment contracts.
It's easy to determine the value of your business as all you need to do is to hire a certified valuation company to do the valuation for you. The company will consider a number of factors in order to come up with the value of your business. Some of these factors include: assets, cash flow, market share, customer base, and financial history.
The correct time to sell your business is when everything is in place. You should wait until your business is viable and you can predict that it's going to have an exponential growth. You should also wait until you have prepared all the necessary documents and you have a professional exit strategy.
You should never sell your business when you are desperate. For example, you shouldn't sell your business when you have a pressing loan that you need to settle. This will not only give you stress, it will also result to you selling the business at a very low price.
Response Two: "I definitely hear what you're saying, but let's take the price out of this for a moment and let me ask you: besides price, what other reasons do you have for not moving forward with this today?