Small Business Selling
Small business selling is a minefield for owners of small businesses.There is a crowded marketplace of sellers and not so many buyers.It is a buyers market. There are dozens of business brokers who are hoping to gain listings, some good and some not so good. Some will list a business at any price, others do not want to waste their time or yours on marketing an overpriced business. Of course you could try to sell your own business but small business selling by the owner is usually unsuccessful and perhaps a proprietor is best using his time on producing profits rather than to take his eye off the ball.
No matter which method you try in small business selling there is one golden rule....
Get the price right before you go to market!
The second golden rule is....
Prepare the business for sale with a comprehensive information memorandum
The third golden rule is.......
minimise your risk
The fourth golden rule is...
be prepared to invest funds in a successful sales campaign. This means having a business valuation report done, and then giving your chosen broker a marketing budget. There is no point in having a good business for sale if the market is unaware it is available for acquisition.