How to Sell Business Quickly and Easily

It is important to think about all the details when deciding to sell your business. The process can be lengthy and costly, as well as emotionally difficult. It also involves the transfer and ownership of assets, which require a lot documentation.

Generally speaking, the size of the business determines if it will be sold independently or through an intermediary. Brokers are typically used to sell smaller businesses since their buyer pool is restricted. Whatever the size of your company, selling can be an extremely complex process that requires careful preparation and planning.

An appraiser with experience can offer a thorough appraisal report that includes evidence to establish the value of your business. This is typically calculated using the multiple of the annual net income or revenue. This number can differ based on the nature of the business and industry. It is used to determine your selling price.

Make sure you update your equipment inventory and ensure that your financial data is correct prior to selling. You will need to prepare three years worth of tax returns and financial reports for a prospective buyer to review. Having these documents ready can accelerate the sales process.

During the negotiation stage, buyers can ask for different conditions to be incorporated into the sale agreement. Common demands include guarantees on salary, dividends from stocks and ownership stakes. You may want to enlist the help of an attorney or accountant before signing any contract in order to understand how these terms affect your profit from the sale.

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