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Our goal is to help our clients meet their financial goals as they sell their business. To do that, we guide our clients through each stage of the selling process. Our initial step would be to provide you with a business valuation to determine whether you are interested in proceeding further.
There is no charge for this service and all our discussions are strictly confidential.
For more information or to schedule a personal interview, please contact us either via email by clicking on the contact button on this page or at bbruns@nevadabizbroker.com. You may also call us at 800.503.1123 from 8 AM to 5 PM Monday through Friday.
We look forward to serving you.
Tips for sellers:
Eleven Important Tips
When Selling Your Own Business
- Price realistically. You certainly don’t want to price your business too cheaply, but you can also come out short if you price it too high because you will discourage a lot of qualified buyers. If it’s overpriced, the business will be on the market for a long time if it ever sells at all, and the longer it’s for sale the greater the risk of your employees or customers finding out. Look for sales of similar business and compare volume and profit.
- Prepare a business offering package. All the information that buyers will want to see should be quickly available because buyers will lose enthusiasm if they have to wait.
- Do all the deferred maintenance before putting the business up for sale. If buyers look around your business and see items that need fixing then they often wonder what else needs fixing that they can’t see.
- Prepare a purchase agreement before you find a buyer and fill in the blanks when you have a buyer. Attorneys are sometimes very slow in putting agreements together and again a buyers enthusiasm can evaporate if the purchase is delayed.
- Look for a buyer in as broad an area as possible. Don’t depend only on your local paper to produce leads because only a fraction of the potential buyers are reading your paper at any particular time. The way to get the best price is to attract as many qualified buyers as possible.
- Qualify your buyers right away. You need to know about their financial strengths and business skills before you give out confidential information on your business.
- Make sure your space and equipment leases are transferable before you look for a buyer. Many, many potential sales have blown up because a landlord refused to assign a lease. If your remaining lease term is short, negotiate a new lease now.
- Agree on a price and terms with the buyer first before you give him access to your financial records. It is extremely important that the buyer has ample opportunity to examine your business. If he doesn’t and the business fails later he may well sue you for misrepresentation and fraud.
- Make sure that every part of the transaction is in writing, including all contingency removals. People quickly forget what was said and not written often leading to arguments and lawsuits.
- Always take a substantial deposit when you have reached an agreement with a buyer. The deposit should be held by a neutral escrow holder to help limit your liability.
- Make sure if you are doing any financing of the sale, that all the correct procedures are followed to protect your note. These include filing of a UCC1 statement with the State of California, suitable promissory notes, security agreements, etc.
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