Selling A Business
10. INVESTMENT PROTECTION
The sale of your company will likely be the largest financial transaction you'll ever make. Engage the appraiser and broker that will get you the best return.
9. LOOSE LIPS...
Have a non-disclosure agreement executed before disseminating any information.
8. VALUATION
Rules of thumb are rules of dumb! Industry formulae can be deceiving. Be sure to have a certified business appraisal done.
7. WHAT IS FOR SALE?
Don't overlook the value of intangible assets such as goodwill, licenses, patents, trade names, customer/vendor lists, intellectual properties, etc.
6. BARGAIN HARD
You want to rely on a professional that will negotiate the best price and terms for your company.
5. BANK FINANCING
Most deals fall through without the aid of an expert in financing to ascertain if the buyer is qualified. Getting an offer is just the beginning and often the end if proper financing cannot be obtained.
4. SELLER FINANCING
Properly secured seller financing can generate a nice, interest-bearing annuity and sometimes defer payment of taxes.
3. AD TECH
There are more than 20 web sites that specialize in businesses for sale, but you have to know which ones work best for your industry.
2. CLEAN UP
Presenting your business in the best light will help maximize value.
1. TIMING
Unlike the stock market, it is much easier to determine the right time to sell a privately held company.
George is CEO and president of George & Co., a Worcester-based M&A, business brokerage and business financing specialist.
WBJ Web Partners
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