Selling your business takes planning and careful documentation of information about the business. The financial statements have to be brought current and also all past information say for the last five years should be reviewed for accuracy. A current inventory should be prepared if the business is inventory sensitive. A list of leases nike juvenate uk sale , legal obligations, loans to be assumed and other obligations should be made and classified. In short, all money matters of any importance should be noted and documented.
Expert help with the numbers
Any projections of future business should be explained and the facts that led to the conclusions should be detailed. Any problem areas should be listed and how the present owner or the new owner can resolve them. If a lease is about to expire, can it be extended and if so at what expense. If major repairs are required to upgrade the building that comes with the business nike juvenate uk , these should be noted and the estimated cost of the repairs. Once all of this is done, the owner should decide how he is going to market his business so as to attract prospective buyers. Is he going to go it alone or hire someone to help in finding a buyer? How is the asking price of the business being set and using what criteria. Is a professional business broker going to be brought in to help with all of these questions? The suggestion in this deal is an expert can be worth the expense as they can find buyers, help to set a realistic price for the business and make up a proposal that puts the business in the best possible light. They can provide the marketing that will help to sell a good business in a quick and efficient manner. The longer a business is up for sale, the more questions prospective buyers will come up with. A business that is profitable and selling at a fair price should sell rather quickly. In fact such a business may find itself in the happy situation of a bidding war between buyers.