Have you thought of what you would need to do to get TOP dollar for your business? Preparing your business for sale can be very overwhelming, but here are some key points to remember.
1. Get your financials in order. You want to eliminate unnecessary expense that would appear to make the business less profitable.
2. Resolve outstanding legal matters.
3. Make sure that equipment is operating correctly.
4. Maintain a good clean business from the operation to the physical appearance.
5. Have favorable lease options.
6. Secure important key players from employees to accounts.
7. Get an experienced agent.
As a seller don't be discouraged to sell in today's economy. Every economic climate has its benefits. If you decided to wait for a better economy, remember about the capital gain increase. We currently have a low rates, but if the rate increases, your business will have to increase in value for 2 consecutive years for you to end up with the same after tax cash.
About The Author: KC Choi offers business brokerage services to both buyers and sellers in the Los Angeles and Orange County areas. 25+ professionals (multi-lingual) assist buyers and sellers with business brokerage transactions. KC can be reached by phone at 888-848-8528.
Watch for more blog posts / articles from me in the future!
|Helpful Resources To Assist In Selling And Buying California Businesses|
|Helen Yoo, New Century Escrow - Escrow Services In Southern California
New Century Escrow, Inc. is a fully licensed & bonded independent escrow company. Over 20 years combined experience in handling bulk escrow transactions. Multi-lingual staff that speaks your language, including Korean, Chinese, Vietnamese. Call Helen Yoo direct at 626-890-1151.
|Janet Carrera: Escrow & Bulk Sale Service - SF Bay Area
Redwood Escrow Services, Inc. is a full service, licensed independent escrow company. We are EAFC Fidelity bonded, fully insured & licensed with the Department of Corporations. Committed to offering our clients the most comprehensive variety of escrow services available. Phone Janet at 510-247-0741.
|Brad Steinberg, Business Broker: Laundromat Specialist
PWS is the leading laundromat broker in California. Since 1968 PWS has brokered over 2,500 laundromat sales. With over 90 employees dedicated to the coin laundry industry, PWS has 18 licensed agents, a 3 person in-house finance department, 10 service technicians and a 20 person parts department.
|Diane Boudreau-Tschetter: Escrow & Bulk Sale Services - CA
California Business Escrow, Inc. is a full service independent escrow company serving all of California and has expertise in a wide range of escrows. Our team prides itself on providing an exceptional escrow experience. For more info phone Diane Boudreau-Tschetter at 888-383-3331 or 209-838-1100.
|Shalonda Chappel: Escrow & Bulk Sale Services - Southern California
Escrow services to brokers/agents, sellers, & buyers. Established 43 years. Extraordinary service. Experienced with handling difficult transactions. One stop for all your escrow needs: Bulk sales, lien searches, UCC searches, liquor license transfers, publishing & recording services. 951-808-3972.
|William F. Ziprick, Attorney: Legal Services For Buyers And Sellers
Through creative problem solving, attention to detail, accessibility, & understanding that unnecessary delay is often a deal killer, I work closely with my clients and other professionals to consistently achieve a high rate of closings. Office: 909-255-8353, Cell: 509-951-7230.
|Elizabeth McGovern: Escrow Services - San Francisco Bay Area
McGovern Escrow Services, Inc., is a leading independent escrow company. We are a trusted partner with our clients, assisting them through the tangled bulk sale & liquor license transfer process. We provide attentive, quality & innovative customer service. Phone Elizabeth McGovern at 415-735-3645.
|Related Articles, Events, Blog Posts, Discussions, Videos, Interviews|
|Absentee Run Small Businesses - Is That Really A Possibility For Buyers?
Is buying a absentee run small business really a possibility? Peter Siegel (BizBen ProBuy Director) gets asked this question a lot in his consulting sessions with business buyers. Read more about what other Advisors and Intermediaries feel about this topic on this popular BizBen Discussion!
|Need Financing To Buy A Small Business? Business Purchase Financing Details
What are actual adjusted net earnings (cash flow) of a small business being purchased with business acquisition financing? That's an important amount that lenders need to know. Peter Siegel, MBA (BizBen.com's Lead Advisor - ProBuy/ProSell Programs) reviews this concept with BizBen Blog readers.
|Computing All Add Backs: Defining Adjusted Net Income When Buying A Business
The use of add backs & adjusted net income is common among sellers of businesses when showing their financial information/performance. But buyers are cautioned to review financials and tax returns/documents closely. Peter Siegel, MBA with BizBen (ProBuy & ProSell Advisor, Lead Facilitator) explains.
|Thinking Of Selling My Business: What Factors Create Value And Drive Price?
There are a lot of misconceptions about what enhances the value of a business. The following factors in this Discussion Post on BizBen are aspects of a business that really drives its value and pricing. Business owners thinking of selling should check these out these factors before selling.
|Tips For Faster SBA Loan Approvals For California Small Business Purchases
In this article on BizBen, business purchase financing advisor and SBA loan broker, consultant Peter Siegel (Business Purchase Financing Expert/Advisor & the ProBuy Program Director at BizBen) at 925-785-3118 shares his views of getting SBA loan financing faster for business purchase financing.
|Uncover Hidden Problems In Due Diligence When You Buy A Small Business
Most everyone who's decided to buy a small business in California knows the importance of due diligence. That involves close examination of a business prior to removing contingencies. But not everyone knows how to uncover problems that are not obvious. Here are five of the most common hidden issues.
|How To Determine Whether The Buyer For Your Business For Sale Is Sincere
A problem owners encounter when offering a CA business for sale is that not all so-called business buyers are qualified to make the purchase. It's frustrating and costly to waste time showing non-qualified buyers the business. Here are ways to identify time wasters so the focus is on real buyers.
|What Is The Typical Business Broker Fee For Sellers And Buyers? Who Pays It?
Was just asked the question from a business owner what the "typical commission" amount is for a broker or agent and if upfront fees are common? Thought this might be a great Discussion topic on BizBen for both business owner/sellers and potentially for business buyers (buyer representation).