SELLING YOUR BUSINESS
Selling your Business
- Once you decide to sell your business, contact a Business Broker for a meeting to discuss the sale.
- Provide the Business Broker with business and financial information in order to find out what comparative businesses are currently selling for in the area where you are located. This will help determine if what you expected to sell the business for and what someone will pay for it are in the same area.
- If you still want to move forward, list the property with your Business Broker. The property can be placed on a Business Multiple Listing Service to help market the property. It also can be marketed in a variety of ways to help sell the business. During this process confidentiality is of the utmost importance.
- Meet with potential buyers who have already been qualified by your Business Broker.
- Consider offers.
- Accept an offer or counter offer.
- Once a price has been settled on, the buyer will go through due diligence.
- Attorneys will prepare the closing documents.
- Inventory will be taken.
- A closing will take place where both parties meet, sign transfer papers, and exchange funds.
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