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Selling A Business in California - The #1 Book On Selling A Business

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Selling your business can be a time-consuming and frustrating experience if you don't know the ideal way to go about it. This book explains what you need to do, have ready, and think about, before you can successfully sell your California business.

Over 70% of all California business owners who put their business on the market never end up selling! Reasons vary and the common ones are: too high a selling price, unrealistic deal structure, or not being ready for sale in the first place (the first month of the selling process is the most important - you have to be ready!)

All business owners should be proactive and start thinking about the sale of their California business well in advance - not at the time they have to sell it. Having sold my own California businesses either myself or through business brokers and also having experience as a business broker and consultant for the past 15 years, I know what it takes to successfully sell a California business. In this book I share with you all the successful strategies it takes to be successful in ~ Selling A California Business.

Also Available: Buying a California Business

About the Author: Peter Siegel, MBA has started, sold or bought six of his own businesses, and brokered the sale or appraised thousands of California businesses over a 12 year period as a California business broker and consultant. He is currently the founder and president of - California Businesses For Sale (established over 8 years) - the largest website of thousands of businesses for sale / businesses wanted to buy in the California marketplace. He has both an undergraduate degree in Economics and an MBA in Entrepreneurial Studies from UCLA. The ultimate authority on selling and buying California businesses, Mr. Siegel has been written up in Entrepreneur Magazine, The Los Angeles Times, The San Francisco Chronicle and in numerous business journals and local newspapers throughout California. He is also the author of Selling A California Business - The Ultimate Guide For California Business Owners, and Businesses For Sale - How To Buy Or Sell A Small Business.
ARE YOU REALLY READY TO SELL? -- If you have unrealistic expectations or you're not willing to have your business carefully scrutinized-even criticized-you may not have the attitude required to sell successfully.
The Reality Check
Conform to Market (Not the Other Way Around)
Be Forthcoming with Needed Information
Demonstrating There's Nothing to Hide
Do the Necessary Work
Key Points from this Chapter

WHAT EXACTLY HAVE YOU GOT TO SELL? -- Buyers want a business with a successful past and a promising future. Will yours pass the test?
It's Not Real Estate
Outside Factors: Viable Market and Demand
The Business: Well Positioned and Equipped with Lease, Assets, Favorable Agreements, Ability, Transferability
Examples of Adjustments Made to Achieve a Sale
Surprises Murder Transactions
Key Points from This Chapter

PREPARATION - Many sellers manage to pull together the obvious things needed to satisfy a buyer. It's the items you might not think about that are likely to sabotage your sale.
What you Probably Thought of Already: Books /Records, Equipment List, Profile
Trial Run
Assemble Your Team
Why Half the Deals Fail
What You May Not Have Anticipated: Meeting with Landlord, Approvals, Transfer of Licenses
Do the Hard Work Now to Reap the Benefits Later
Key Points from This Chapter

BUYERS WANTED - Understanding the two kinds of buyers and knowing what they want can help you find the right person or company to purchase your business.
Think as if You're the Buyer
Getting an Industry Insider to Acquire Your Business
Looking for an Owner/Operator to Take Your Place
Other Kinds of Buyers
Key Points from This Chapter

SHOULD YOU HIRE A BUSINESS BROKER TO HELP YOU SELL OR HANDLE IT YOURSELF? -- Here's what the professionals bring to a deal and why a disinterested person might be worth the fee.
Brokers, Agents, Brokerages
The Choice
The Business Sales Process
Benefit of Doing These Yourself
And the Disadvantages of Being Your Own Broker
Benefits of Engaging a Broker
Is it Worth the Fee?
Hybrid Agreements (Exclusive Agency, Open and One-party Listings)
Should You Pay a Fee Upfront?
Key Points from This Chapter
HOW TO SET THE PRICE THAT'S RIGHT- 1 -- What does the market say your business is worth? Here are some ideas and tips to use in determining how much to ask.
It's Not Real Estate
And It's Not a Passive Investment
Put Yourself in the Buyer's Wallet
Calculate ROI for Owner/Operator
Measuring Cash Flow: Adjusted Net Income aka Seller's Discretionary Cash Flow
Compare to Start-up Costs for Industry Insider
Price Adjustments: Terms of the Deal, Extra Assets, Unusual Circumstances, Quick Sale
The Earn Out
Letting the Market Determine Price
Valuing Unreported Income
Key Points from This Chapter

HOW TO SET THE PRICE THAT'S RIGHT - 2 -- The price for your business is an easy way to measure what you want to get out of a sale. But it's only one part of the successful seller's package. Look at the entire structure of the transaction to understand the place of your asking price.
Price is a Piece of the Puzzle
Establishing the Down Payment
How Payments to a Seller Can be Structured
What is the Best Collateral for the Seller Who Carries Back
Tax Impact of a Business Sale Affects Pricing
Flexibility Helps Achieve Agreements
Key Points from This Chapter

PROMOTING YOUR BUSINESS FOR SALE -- How to find good buyer candidates and get them interested in your offering.
Controlled Exposure
The Critical First 30-60 Days
Broker Network
Initial Qualifying
The Package
Being the Bearer of Bad News
Key Points from This Chapter

QUALIFYING BUYERS: A CRITICAL STEP -- Why qualifying buyers is so important and some tips on handling this critical step.
How Business Brokers Walk the Tightrope
Some Questions to Ask
How to Make the Most of Your Meeting With Buyer Prospects
Non-disclosure/Confidentiality Agreement
What if the Buyer Doesn't Appear Qualified?
Key Points from This Chapter

SOLICITING OFFERS -- What does it take to get from the conversation to the contract? Tips from business brokers and other salespeople.
A Suggested Protocol
The Hammer
The Tweezers
The Yardstick
The Vise
What To Include With An Offer
Asset vs. Stock Deal
Key Points from This Chapter
NEGOTIATIONS -- How the experts cross the great divide to get two sides, with competing interest, to agree.
It's Not Personal
Don't Take Your Eye Off the Ball
Remain Flexible
And Consider All the Costs
Knowing Your Threshold
Building from Consensus
Take a Time Out
Key Points from This Chapter

THE DEAL -- What key components are included for everyone's protection?
What's Included in the Purchase/Sales Contract (Basics-Lease & Capital Assets-Inventory-Employment Agreements-Special Provisions- Items Excluded-Contingencies-Escrow-Legal Provisions-Non-Disclosure Reminder)
Due Diligence
For Franchises
Key Points from This Chapter

SELLER'S TAX CONSEQUENCES -- and things to ask your accountant
Allocating the Purchase Price
Ordinary Income Items
Capital Gains
Key Points from This Chapter

FINANCING -- The traditional and creative ways to find the money to accomplish your sale.
Seller Financing
The Cheapest Conventional Money
Traditional Sources
Innovative Financing Strategies
Shared Equity
Key Points from This Chapter

THE WORKINGS OF ESCROW -- What happens and how long does it take?
Opening Escrow
Waiting it Out
The Close
Key Points from This Chapter

Stay in Touch

WHAT CAN GO WRONG -- And what to do about it.
An Unqualified Buyer
Due Diligence Delays and Disturbances
Escrow Surprises
Major Changes After Sale
Albert's Solution
Key Points from This Chapter

HOW TO SELECT AND WORK WITH A BUSINESS BROKER -- What to look for when interviewing candidates and how to make sure the broker is effective.
Improve Your Odds with an Able Business Broker
Specific Characteristics to Look For
How to Work With Your Business Broker
Key Points from This Chapter

Tim Cunha Business Brokerage
Steve Erlinger Laundromat Broker
Larry Larsen Laundromat Broker
Health Care Broker Ralph Santos
Google Plus You Tube
Vlogs and Podcasts
Shalonda Escrow Services Town And Country
Pool Solar Company For Sale
Chris Seaman Business Broker San Diego
BizBen ProBuy Program
BizBen Blogs And Articles
BizBen ProSell Program
Instant Email Alerts On BizBen
California Educational Events Buying And Selling Businesses

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