Selling your business is a big deal. Whether you work in landscaping or run a car dealership, you’ve given your all as you built up your organization. So now, you want to get the price you deserve.
However, buying a business is a big deal too. Your buyers want to make sure that everything is in order so they can take the reins and pick up where you left off. Here’s what they want to see from you, and here’s how you can maximize the sale price.
A Stand-Alone Business
There may have been a time when you basically ran the whole business yourself. But when you come to sell, you need to make sure the business can stand on its own two feet. No one wants to buy a company that falls apart when you walk out the door.
Ownership of Key Assets
Buyers will want to know that the business comes with key assets too. For example, if you run a painting or general maintenance company, buyers will want your vehicles and equipment included in the business sale. If you’re selling a training center or private college, buyers may want to see that the educational facilities come with the business itself. Share the relevant paperwork to prove this.
A Ready-Made Market
One of the most valuable parts of your business is its customer base. So are these customers loyal to the brand you have built, or are they loyal to you? Will those customers still be customers when the new ownership takes over? Are there any emerging competitors in the market that could dilute the customer base? The buyer will want to know about this.
An Existing Workforce
Your workforce is another huge asset to your business. It’s these personnel that keep your organization running on a day-to-day basis, whether behind the scenes or on the frontline, interacting with customers. With this in mind, your buyers will want to know if the purchase of your business includes the staff currently working there, particularly the most valuable talent.
Contact The Batallan Group to learn about the process of selling your company.