Qualified advisers are essential for an effective business sale. The right adviser can have a big impact on the success of your sale, considering the risks reduced and mistakes avoided.
This tool belongs to ExitAdviser's package of online services aimed at owners selling their business.
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Larger businesses may choose to use a specialist business broker and/or corporate financial adviser.
These are involved at an early stage to take care of producing credible sales documents, valuing the business, finding and vetting prospective buyers and negotiating a sale on your behalf.
Business brokers operate similarly to real estate agents, however their practice is limited to business entities.
In most cases though, a small business owner may want to pick a FSBO (For Sale by Owner) route in an effort to avoid paying a commission to a business broker.
You may need an accountant. The accountant concentrates on the financial aspects of the business sale, like preparing financial reports and projections for the business.
Also, your may need to meet a professional tax adviser to handle sale-related business and personal tax planning. Your accountant may be a tax specialist, or may be able to introduce you to one.
Qualified financial / retirement advisers are trained to help you set financial goals and priorities and recommend specific steps to meet them. They give advice on how you should allocate your funds from sale, what kind of insurance you may need, and explain how certain moves may affect your tax liabilities.
NB! The advisers listed here represent entities that have no business relationship with ExitAdviser. Feel free to negotiate your own terms with an adviser. Please be aware that your fee paid to ExitAdviser does not include any services provided by an independent contractor.
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Getting started with my business sale