Please, Sell My Business! How to Sell a Business You Don't Want

Sell My Business

How to Sell a Business You Don’t Want?

Are you saying "Please, sell my business!"? Read this article to learn how to sell a business you don't want and get the most money possible.

Sell my business

You’ve spent blood, sweat, and tears into building your business and now you’re keen to sell it. As with any sale, your goal is to find the right buyer and to sell your business for maximum value.

But if you’re new to the process of selling a business, you may not know the best way to sell your business for maximum profit. Don’t worry, every new business owner has been there.

If you’re thinking ‘I want to sell my business’ then we’re here to help you. Here are our tips on selling a business to gain the best profit.

Determine What Your Business Is Worth

When selling your business, you first need to determine how much it’s worth before putting it on the market. Realistically, your business is worth as much as it will sell on the marketplace. But deciding on that price can be tricky.

Thankfully, there are various business valuation methods out there to help you. These differ from asset-based to future earnings approaches. However, to get the best results you should use more than one method.

The current market, economic trends, and what other similar companies have sold for recently also need to be considered.

Getting a professional business valuation is a must-do. While legally anyone can conduct a business valuation, a company valuation performed by a professional will be viewed more favorably by potential purchasers. What’s more, potential buyers are likely to request a professional business valuation before committing to purchase so this can save you time later.

Be Clear About What You're Selling

When making a business sale, you need to decide exactly what the assets of the company are and decide what you’re happy to sell. Consider which physical assets you’re selling and what other assets you have available to sell.

Selling a business often includes assets like goodwill, trademarks, client lists, as well as physical assets.

The value of such assets will depend on their quality. If your company is incorporated, you must also consider whether you’re going to sell the business as an asset sale. This is where you sell everything in the corporation, apart from the incorporated company itself.

Alternatively, you can go for a share sale. This is where you sell everything, including your incorporated company.

I Want to Sell My Business: Getting Professional Help

When you’re thinking ‘I want to sell my business, one of the best ways to help with the process is to seek out professional help.

Here at Biznexus, we can help. We help match business owners with the best business intermediaries to help you sell your company for the most profit, on optimal terms. The service is free for business owners, and our goal is to help increase entrepreneurs’ chances of having a positive experience of selling their business. To learn more about how we can help, check out our website.

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