| Starting a small business is a risky venture, but if | | | | business is slowing down again. If you know you |
| you are at the point of selling your business, you | | | | will be selling your business at the end of the busy |
| have already experienced what this is like. Buying | | | | season, put it up for sale months in advance, but |
| a business that was started by another person | | | | settle on a final sale after the busy time is over. |
| tends to be simpler than starting one from | | | | This allows you, the current owner, to benefit |
| scratch, but a buyer will still be looking for key | | | | from your business for the final time. You want |
| points before they make any decisions. If you are | | | | to get the full value of your business, and this is a |
| hoping to sell your business because it is failing and | | | | way to accomplish that. It is not a disadvantage |
| you want to get out before losing any more | | | | for the new owner to buy at the start of a down |
| money, you will not find success in selling. Buyers | | | | season because it gives him time to make any |
| look for rise in profits over at least the past three | | | | changes and learn the processes of the business |
| years. If you cannot show such numbers, sellers | | | | when customers are in a lower quantity. |
| will be turned off because they recognize a bad | | | | As you approach a final sale within a few months, |
| investment when they see one. | | | | cut expenses by lessening advertising and |
| Hopefully, you have a solid reason for selling your | | | | lowering inventory. Nothing should hurt the |
| business. Such reasons might include failing health, | | | | business, but cutting costs at the end is sensible |
| death of a family member or intended retirement. | | | | because the new owner will most likely want to |
| Potential buyers will ask you why you are selling | | | | change the way things are done anyway. Needed |
| your business and you better be able to back it | | | | repairs and replacements should be discussed |
| up. Also, your asking price should be supported by | | | | between the current and future owner before |
| the statistics of your business. | | | | one party or the other takes up the obligation. |
| If your business has significant up and down times | | | | Every business deal is different, but these are the |
| during the year, the best time to sell is right when | | | | basics to help you know the best time to sell. |