Sell Your Business

When it’s time to pass the torch, we keep you from getting burned.

Selling a business with an exit strategy keeps more of your hard-earned money in your pocket.

There’s an art and a strategy to selling a business for profit. The best time to start planning your exit is when your business starts. The second-best time is today.

A struggling business is hard to sell and even harder to profit from. You’ll want to make your exit when things are good – when the business is making money and running smoothly.

We spend a lot of time helping people find the right business to buy. That buyer viewpoint lets us show you issues you might have missed that are red flags for buyers.

Seller’s checklist

Prepare for a successful exit with our free seller’s checklist.

GET THE CHECKLIST

The best time to sell a business

Ideally, you started planning your exit strategy long before you were ready to move on. Many businesses are sold out of necessity when the owner encounters an unanticipated crisis. Being ready to sell at any time means you’ll never be caught scrambling.

Toning up your operation

Your business may be your baby, but to a potential buyer, it’s an investment. And if it doesn’t look like a great investment, it’s going to be hard to sell.

If you’ve gotten slack with your financial records, now’s the time to whip them into shape. Take a look at your bottom line and make sure you’re running efficiently.

Review your operation, looking at it through the eyes of a potential buyer. Is the business in a position to grow? Are you over- or understaffed? If you stepped away, is your staff trained well enough to keep things running smoothly in your absence?

To sell a business at a profit, you can’t let it stagnate while you ease out of it. It’s like real estate; a move-in-ready home sells for more than a fixer-upper.

Know what your business is worth

The right asking price is critical. You need an expert business valuationbefore selling your business.

Most owners are too close to their business to realistically estimate what it’s worth.

When we value your business, we take into account your assets, structure, financial history and projections, the market and economy, and many other factors.

You might be surprised at your business’s market value. Ask too much and you’ll have a hard time finding a buyer. Ask too little and you might sell fast but leave money on the table.

Find a buyer for your business

When you sell a house, you want to tell as many people as possible the home is for sale.

When you sell a business, you want to keep it as quiet as you can.

Broadcasting that your business is for sale could actually hurt you. It might start rumors that the business is in trouble. Employee morale could suffer as workers worry about the security of their jobs.

So how can you find a buyer without being obvious about it?

BizFranHub has relationships with people interested in buying a business. We match what you have to offer with what they are looking for and approach qualified buyers directly. Most businesses sell without ever being listed on a public marketplace.

Negotiate the sale

Unless the asking price was set too low, most business sales involve some back-and-forth. A buyer may want a lower price or may seek other concessions, like reducing rent or including inventory.

Be prepared to negotiate. Know how far you’re willing to compromise and where you need to stand firm. A trusted broker can give you good advice on these points.

Close the deal

Once a deal has been struck, there’s nothing left to do but close it. There are legal details you have to attend to before you sail off into the sunset. You may also want to have a plan for how you will break the news to employees and customers.

Working with our team makes closing as efficient and hassle-free as possible. We will see to the finer details while you plan your next adventure.

SELL YOUR BUSINESS