When To Sell Your Business
“There’s a difference between what you make and what you take when it comes to selling one’s business”, according to Jared Ribley, one of PBB’s top business brokers. Ribley believes most of the business owners, who are putting their business’s on the market, are greatly interested in achieving the highest price possible for the sale of their company. But how does one achieve the highest price possible for the sale of their company? Isn’t it a given everyone wants to make as much money as they can on a sale? The answer to the latter question is of course “yes”, but the answer to the former may take a little more explaining.
There are quite a few things to consider when it comes to selling a business. How well the records are kept is possibly the most important on the list. The records of a business should be able to answer every single question one may have about the overall operation over the last few years. Without decent records, it will make the sale of a business much more difficult. Another thing to consider is how well the existing management works for the company. Are they reliable? Will the business continue to run well without the current owner? As long as the answer to both of these questions is “yes” then the seller is definitely heading in the right direction. One last important point to remember is how the company has been financially performing over the years. It would make sense a business is worth a lot more if it is financially performing well.
Although there are many other important things to take into consideration when it comes to selling a business, this is a good place to start. An informed and well-represented seller will always have a successful sale if they are prepared and have everything in order. If you’re a business owner and interested in learning more about what you can do to sell your business, get in touch with Jared Ribley or any of our knowledgeable brokers at www.premierbb.com