Nothing lasts forever, and the same can be said about your business. You establish it, nurture it, expand it, drive it through all the obstacles, and finally decide to get out: to leave it behind once and for all, to finally sell your business in Euless, TX. But two main questions: when can you sell your business, and how would you go about it in Euless, TX?
Find a prospective buyer, strike a deal, and then close it. Ta–Da! And you would be done. It’s actually not this simple, but here’s the best part. Our skills and expertise can make it really easy for you to sell your business. So, reach out to Kirksey Business Brokers in Euless, TX and let’s get started.
We’ll guide you right from the start to the end. We’ll help you develop an exit strategy and prepare all required documents. And we’ll make sure that you get the best possible deal in Euless, TX, when you sell your business.
Why do you want to sell your business in Euless, TX?
This is the first question which anyone will ask when you tell them you want to sell your business. And this includes the buyers as well.
So, why do you want sell your business? There could be many reasons. It could be the economical situation. It could be lack of support. It could be less than anticipated profits. It could be not enough funds. It could be an industrial upheaval without any signs of improvement in future. In some cases, the reasons may be personal as well. Maybe you have you lost the passion, and want to try out something else now. You want to venture in another industry or do something you have never done before.
Whatever the reasons are, figure them out, and then share them when you tell people you want to sell your business in Euless, TX.
Is it best for you to sell your business in Euless, TX?
Do you have other options? Consider them, and compare them with each other. If you’ve been a business owner for a short time, then you may not have earned enough financial awards at this stage. On the other hand, if you have been in the industry for several years, you would have reaped in several benefits by now.
Maybe your relatives or family want to handle the business by themselves now, and only turn to you for advice. Or maybe, your employees are interested in buying the business which you want to sell.
Whatever your options are, whatever situation you are in, evaluate it and then decide if you should sell your business. You should also have a discussion with Kirksey Business Brokers in Euless, TX, before you finalize anything.
What do you expect from selling your business?
Set very clear expectations in terms of the following
- Acceptable price range
- Possible payment options
- Negotiation limits
Once you clear your expectations, you can proceed ahead with selling your business in a more confident manner. We’ll also advice you about this once we have performed business valuations, and set a price for your business.
Is this the right time to sell your business?
Do you have any other source of income? If you don’t, then you should sell your business at the right time. Generally, you should get a good price if your business has been doing well, and is considered to be a valuable asset. However, if the industry is going through troubling times, then sell as quickly as you can so that you can get the best possible deal. If your business has already lost the ability, then buyers may not want to pay you the best possible price. Nonetheless, we’ll still help you maximize sale.
Can you invest enough time?
Selling a business may take some time. We will accelerate the process, but if documents have not been prepared properly or some legality arises, then there may be delays. Even if none of this happens, you should still give yourself some transitioning time, and expect to be involved with the business until the new owner can run it on their own.
On an average, it takes about a few weeks, but there are a lot of varying factors.
Whose help will you need?
Selling a business requires a number of different professions to be involved. Here are some of the people whose help will be required. We already have them on our team at Kirksey Business Brokers, located in Euless, TX.
- Lawyer – for preparing all the legal agreements, and ensuring there aren’t any loopholes in any of the contracts
- Financial specialist – for helping you deal with capital funding issues
- Business valuation expert – for performing business valuations, and helping you decide a price
- Accountant – for preparing financial statements and resolving tax issues
- Real estate appraiser – required only if you are planning to sell the land as well as building along with your business; in such a case, a commercial value will be assigned to your property
- Equipment appraiser – if you are selling your equipment and machinery with your business; these items will increase the total worth of your business
Who can be your potential buyer?
This depends on the kind of outcome that you want and whom you consider to be the ideal buyer. For instance, you can sell your business to a firm who can become a competitor, and is willing to expand. Or you could consider companies which are acquiring other businesses.
Are there any other choices? Businesses with a cash surplus may also be interested if your business worth is high, or companies planning to become public.
Should your show financial statements to buyers?
Only if they are serious. We’ll help you with a non-disclosure agreement, so no potential buyers can use information which you share with them for their benefit.