Things to Consider When Selling Your Business



10 Things To Do Before Selling Your Business

You’ve worked hard to build your business and you’re thinking, what’s next? If selling your business is in your future, know that preparing for a successful sale can be a long‐term process. To maximize the value of your business, you’ll need to plan and prepare well in advance. As a guide to preparation, carefully consider the following 10 items:

Your business functions pretty well and is profitable just the way it is. You know there are areas where process or key contracts are not as clear as they could be, but the job gets done without major hitches. Consider, however, how your business would look to a cautious buyer or new key investor. What will they find when they put your balance sheet under a microscope? A careful review of key business processes, assets and contracts can save you major hassles during negotiations and significantly increase the value of your business.

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Fundamental Things To Consider Before Selling Your Business

Business owners choose to sell their businesses for multiple reasons, from profiting financially to pursuing other business ventures or choosing to retire. Except in extreme circumstances, the decision to sell your business should not be made hastily. Multiple factors help determine who you choose to sell your business to and the conditions of the sale.

Look at your annual earnings, potential for growth and assets when determining a selling price. If you have accrued debt purchasing equipment or other items for the business, consider whether you want to sell those items separately to ensure the debt is paid. Hire a quality tax accountant to analyze your business and the amount of taxes that must be paid in the event of a sale. Small-business owners face capital gains taxes upon the sale of a business, which may greatly reduce profits. A tax accountant may find ways to structure the sale to reduce the amount of taxes and increase your profits.

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Six Things To Consider Before Selling Your Business

You are a successful entrepreneur. After many years of hard work, sacrifice and dedication you’ve built your enterprise into a successful business. You’re now thinking about selling that business. Weigh your "exit” options with the same discipline and critical eye that have made you a success – but in the process, be brutally honest with yourself about your goals for the next chapter of your life. Thoughtful business planning, a little soul-searching and involving experienced advisors at this important juncture will maximize your exit payout and ensure that you achieve all of your goals. Your success is no accident. Your success in selling your business will require the same diligence.Although you probably have many questions about the sale of your business, our clients typically ask the following questions upfront:

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Selling Or Closing Your Business - Things To Consider

This overview covers the most common topics you need to consider when selling or closing a business.

Although not everything you need to know may be covered, it's a great starting point. You can find more information from the web pages and publications we refer to. We recommend you also seek advice from your tax adviser.

You can also use our checklist of items covered in this overview.

Last Modified: Thursday, 17 February 2011

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101 Things You Should Know About Selling Your Business

Wakeup and decide to plan for the exit. Meet a broker/advisor at least a year ahead so you know the process and perhaps can even increase the purchase price through planning.

Pretend nothing else matters, because, well, nothing does. At least not enough that if you had one thing to focus on to increase the value of your business, this is it.

Earnings (both discretionary earnings for small companies and EBITDA for larger ones) don’t include depreciation expense. For tax reasons business owners tend to expense rather than capitalize and depreciate, but in the year or two before a sale? Depreciate.

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