When you own a business, your aim is to make it big. But sometimes the circumstances might force you to let go of the dream. You might have to relocate or take up other obligations. Does that mean you should give up on the business you have established and just close it down? The answer is no, you shouldn’t. You should sell it to a willing buyer, this way you will make some money and your dream business will live on too.
Where to sell?
Nowadays you can even sell the business online. There are online brokers like http://exitadviser.com/ that will help you sell your business and help you get the best deal. The icing on the cake is that they won’t charge you a single penny for brokering a sale.
The downside of involving a broker is that you will end up giving him or her, a percentage of your profits from the sale. But self service platforms like ExitAdviser provides you resources that will help you prepare your business for sale, market it in such a way that you get the best profit possible, calculate the asking price for the business and all of this free of cost.
Prepare well for the sale
Don’t sell the business in a hurry, prepare for it carefully over time so that during valuation, your business is in prime condition. Collate all the information regarding previous revenue, past performances and its potential in the future. The key is to know which information to disclose and which to withhold from potential buyers. Too little info will make your business uninteresting and too much will compromise confidentiality. You might consider telling buyers why you are selling the business; honesty is often the best policy.