Starting and running your own business is something to be proud of. But eventually, everyone reaches a time when things like family and travel are more important, or perhaps when it's time to cash in on all your hard work.
It's a momentous decision that shouldn't be taken lightly. To help you come to the right choice and get the most out of your businesses sale, we've put together a list of three essential things to consider before selling.
1. Is selling the right decision?
Why are you selling your business? If your answer is focused around money problems, difficulties complying with new government regulations or lacking the time to continue, make sure you've considered all your options.
Could you hire someone to assist you in running your business to give you more time and increase efficiency?
Finding buyers can be a difficult process.
Perhaps you could change your business to better suit your lifestyle? Professional help from a financial advisor could help alleviate money problems and make your business viable again.
If you've taken time to consider your options and still believe it's the right decision, it's time to move forward.
2. What's it all worth?
Before selling your business, it is absolutely essential that you know how much it's worth. The National Australia Bank guide to selling a business details four key influencing factors when valuing yours:
During this stage hiring an accountant is recommended to ensure your business is correctly valued.
3. How will you find buyers?
Finding buyers can be a difficult process. With Bsale, it's simplified – with a click of your mouse you'll gain access to thousands of potential buyers increasing your chances of a successful sale.
While it's never a sure thing, gaining access to buyers throughout the nation through your online business sale listing is a great first step to success.