Selling a Business
by Jake Schario
Jake Schario No Comments
  1. What to look out for when selling a business? When selling a business, it’s important to look out for potential red flags from buyers, such as a lack of financial capability or serious intent. It’s also crucial to ensure all legal and financial aspects of your business are in order.
  2. What steps should a business owner go through to prepare the business to be sold? A business owner should start by understanding the importance of preparation, organizing financial documents, conducting a property and equipment check, getting a business valuation, marketing the business, pre-screening potential buyers, meeting with potential buyers, negotiating the sale, going through due diligence, and preparing closing documents.
  3. How far in advance should you begin to prepare to sell your business? Ideally, you should begin preparing to sell your business 1-2 years in advance. This allows ample time to improve financial records, business structure, and customer base, which can enhance the value of your business.
  4. What are the basic steps of the business sale process? The basic steps of the business sale process include preparation, marketing, buyer screening, negotiation, due diligence, and closing the sale.