Sell your business

Download FREE FSBO Report


Sell Your Business Information And Tips

Steps to Selling a Business
What is My Business Worth
Contracts and Agreements
Selling withou a broker

FAQ’s about Selling Your Own Business

How long does it take to sell a business?

Answer:  It is different for every business but most businesses take from 4 months to 14 months to go from listing to being sold.

How do I know what my business is worth?

Answer: You must go to an advisor who has experience with valuing businesses and have a business valuation completed.  This valuation can be an inexpensive informal valuation or a complete valuation including net income and predictions of income after selling your business .

Why do I need to offer seller financing? 

Answer:  The Small Business Administration in partnership with your local bank will most likely be dictating the terms of the deal.  They currently require a minimum owner financing of 10%. Depending on the industry it can be higher. Seller financing assures the buyer that you are confident that your business can survive without you.

What do I do when I have a buyer? 

Answer:  If you already know who the buyer is going to be, then you will want to bring in an advisor to help mediate and negotiate a deal that is sound in structure and terms for both parties.  Often time, deals go south when the buyer and seller try to negotiate the sale themselves. This is why having an intermediary can help keep the deal together so that you can sell your business.

What can I do to increase the sell-ability of my business? 

Answer:  A seller must always be on the look out for ways to make their business more valuable for a buyer.  Maximizing the profit of the business through increased sales and expense management is vital.  Also, keep clean and detailed accounting records that match with both tax returns and bank statements.

Where can I list my business for sale? 

Answer:  There are many national websites available for business owners to place blind ads that will be viewed by interested buyers. Here are a few that you might want to consider:

Bizbuysell.com

businessesforsale.com

mergernetwork.com

How do I keep everything confidential? 

Answer:  Start with requiring the buyer to sign a solid non-disclosure document created by an attorney that has experience in business sales.  Also consider having a third party handle the requests for information and the signing of the non-disclosure before any financial information is revealed. Using our complete FSBO package can provide you with the forms and assistance you need.

When should I consider using a business broker?

Answer:  It all depends on how much time you have to dedicate to the sales process and how sellable your business is.  The less time you have to interview buyers who are “tire kickers” the more you will need the services of a good business broker. Through our relationships with brokers across the US, we can provide recommendations on brokers to use.

 

Contact Info – David Bandars

 12110 Port Grace Blvd. #201, LaVista, NE 68128

Top