Check out these important tips for selling your business in 2019.
The good news is that sale prices are rising for healthy businesses, but the downside of this is that it can be tempting for owners to jump into a sale before they are ready. While over half of business owners in the U.S. say they are confident that they would receive a reasonable price if they sold their business soon, it’s crucial to have a well-thought-out exit strategy before making any moves. If you’re thinking about selling your business this year, be sure to read these three important tips!
Prepare Early
The current market looks promising for business owners, but it’s essential to start preparing now. It’s easy for time to slip away quickly, and as we enter April, it’s time to take serious steps for developing an exit strategy to sell your business to a reputable buyer. The GDP is expected to slow its pace by 2020, so if you’ve been waiting for the right time to sell, it’s time to get the process started and make 2019 your selling year!
Invest In Your Business
Some owners tend to neglect their responsibilities and “check out” after deciding to sell their business, but it is crucial to avoid this. Owners should continue working and investing in their business after they’ve decided to sell, as it is crucial to understand what will motivate a buyer to make a deal. Take the time to improve your business by installing new equipment, increasing marketing efforts, or removing obsolete inventory to increase the value of your business and prove to buyers that they should buy your company.
Prepare Financials
Lastly, it’s vital to prepare your financials before attempting to sell your business. With so many healthy companies on the market today, buyers will be extra careful about the businesses they choose to buy and will evaluate the long-term profitability. Be sure to clean up your financials and have consistent reports, as well as profit and loss statements and balance sheets for the last three years (or more.)
The favorable market in 2019 is motivation to sell, but it’s crucial to put in the work to ensure your business will get a good price from a serious and qualified buyer. If you’re ready to sell your business now or you’re contemplating a sale in the future, be sure to call Atlantic Business Brokerage and let us show you what we can do for you!
Sell With Atlantic Business Brokerage, Inc.
At Atlantic Business Brokerage, our mission is quite simple; we help sellers sell businesses, and buyers buy businesses! Over the past 30 years, ABBI has facilitated the sale of countless commercial properties, businesses, and franchised locations. With our unparalleled knowledge of the business purchase and sale industry and our network of contacts, we offer services to both buyers and sellers that no other brokerage firm can match.
Contact us to discuss your business buying and selling goals today at 410-561-9800, or Toll-Free at 800-279-7569. Email us at [email protected], and follow us online on Facebook and LinkedIn.