Preparing Your Business For Sale
Preparing A Business For Sale
Groom your company right from the start to become a part of a public company's portfolio. Read blog
Expert pointers on the details of selling a business, planning an IPO, and choosing a successor. Read more
You'd think he'd be celebrating, but our columnist has discovered that getting a great offer for your business can be a very scary proposition. Read more
When you put your company on the block, potential buyers may urge you to sell them your company's assets rather than its stock. Your decision can have serious tax and legal implications. Read more
The first months of a new business are heady times. As an owner of a partnership, you have many things to juggle -- organizational papers, contracts, and ... Read more
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Preparing Your Business For Sale: Ten Steps To A Profitable, Hassle-Free Sale
So, you’re thinking about selling your business? Here are a few observations gleaned from years of helping the owners of small and mid-sized businesses successfully sell their businesses:
1. Start planning early. The process of selling a business takes many months, even years. Be clear about why you want to sell, your goals, and what you want to do after the sale. Ask yourself the hard questions – do I want to leave this business? Why? Is this a "crisis” sale, or an ideal time? What am I going to do after the sale? Do I want to stay in this field? Do I want to retire to a sandy beach, or start another business? In order to sell effectively, you must be committed to sell, and not experience "seller remorse” in the middle of the process, so be clear about what you want.
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Preparing A Business For Sale
Back to Tool Box By Cara Lowe, Esq.
Business owners who are interested in selling their companies often don’t anticipate the outside factors that can quickly influence a deal. By taking proactive measures far in advance, potential sellers can help ensure success and avoid getting blindsided by deal-killing surprises.
Since most privately held businesses don’t have a dedicated in-house team to handle the due diligence, negotiation and documentation process, the owner will often have to lead the sale process, confidentially resolve complex deal issues on the fly and continue to manage company operations successfully. The best way to juggle all of these demands is establishing a thoughtful plan for managing the process in advance.
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The Dos And Dont's Of Preparing Your Business For Sale
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Preparing Your Business For Sale | Free Enterprise
If you are seriously considering exiting your business by selling to a third party, there are several steps you should take before you begin actively marketing your company. The more time you allow for advance preparation, the better, though most of the following steps can be taken during the few months leading up to a sale process. The following checklist can help position your business to attract the right buyer and get maximum value.
Financial statements of private companies are typically prepared with a view towards using all available accepted accounting methods to minimize a company’s taxable net income. This tends to be at odds with what a business owner wants to show to a potential buyer in the context of a business sale. The goal when presenting financial information to a potential acquirer is to maximize the presentation of net income and cash flow. Since the primary factor influencing a company’s value is its earnings, it is key to maximize the presentation of the financials. It is imperative that potential buyers are able to read between the lines and appreciate the actual cash flow or income-generating capability. By recasting or adjusting the financial statements, you can help potential acquirers recognize the financial capability of the business.
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Posted by Charles Brown