Selling A Business

July 17, 2019

How to Make Your Business Sale-Ready?

Thinking of selling your business someday? Planning on leaving your empire to the kids with a chunk of cash attached? Dreaming of retiring to the sunny beaches of a Caribbean island? Perhaps you’re planning on doing any (or all) of these things from the sale of your business. And, OK, maybe we’re dreaming a little. But, still, selling your business can be a smart decision. Good reasons to sell include: the market telling you it’s the right time; you’re no longer interested; you have dysfunctional relationships with your fellow business owners; or you’re just plain ready to retire. So, even if you’re establishing a new business but have visions of someday selling it, there are several things to consider. Some business plans — especially […]
July 17, 2019

Why Sell Your Business?

In the back of their heads, many entrepreneurs are thinking, “when should I sell my business?” Owners who ponders over selling their business does not always do so out of financial desperation or trouble but usually because they are looking for the next opportunity. Following are three reasons to consider when thinking about selling your business. Business value Anytime you have an opportunity to get liquidity in your company, you need to seriously consider it because running a business is risky and the longer you hold on to that business and the bigger you get, the more chance you risk of failure. There is value in a business but no liquidity until you go through a transaction of selling a piece […]
June 25, 2019

Is It Time to Sell Your Business?

“Quitters never win and winners never quit.” —Vince Lombardi In small business, it’s not that winners never quit. Rather, winners know when and how to get out at the right time. Making a change is always tougher than the status quo. Most owners hang on too long and delay a decision when their businesses are either wildly successful or just plain not profitable any longer. A fading business. When a business is fading, owners often keep waiting for that the next prospect, the next big customer or a new employee who will make the difference and finally propel the business out of its financial mess. They believe that they can grow their way out of whatever financial difficulty the business […]
May 22, 2019

Selling a Business to a Competitor

Offering up your small business for sale is no easy feat. And selling a business to a competitor can easily imbue this feat with even more logistical and emotional complications. Luckily, there are many experts out there that have helped many business owners in selling a business to a competitor. Even more, there are business veterans who have gone through the process of selling their own businesses in the past. 1. Get an Idea of Your Business’s Value If you are serious about selling, have your business appraised. When you make the first move to sell your business, you should be prepared to offer a selling price. An appraisal will help you set that price based on market facts, rather […]