Check out these four tips for selling your home-based business.
More and more Americans are working from home, as many reports have shown that the ability to work from home plays a significant factor in happiness, productivity, and an employee’s decision to stay at a workplace. The demand for home-based businesses will only continue to grow, so if you’ve thought about selling your business, now is the perfect time to get started!
Have An Exit Plan
Every home-based business owner should have an exit plan, even if they are not thinking about selling any time soon. An exit plan is crucial for detailing how and when you will exit the business, including topics such as your willingness to stay on payroll under new ownership, a list of potential buyers, a path forward for existing employees, and profit needed for the sale of the business. If you are unsure where to begin, a local business broker will be able to assist you in creating an exit plan.
SWOT Analysis
Next, you must take a look at your business operations, finances, and key employees. Performing a SWOT analysis of your home-based business is an excellent way to pinpoint areas that you excel in as well as areas that need improvement. This way, you can addresses weakness mentioned in the SWOT analysis before listing your business for sale. Potential buyers will always look for sore spots in your business, so working on these weaknesses before selling is crucial.
Business Valuation
Home-based business owners should then hire a professional business valuation service to determine the worth of your company. There are various ways to put a value on a business, but an expert will select the method that it the right fit for your at-home company. You can then choose a listing price and defend it by showing potential buyers the business valuation.
Work With A Business Broker
You have the option to privately market your business and complete the many steps that come along with selling a business, but working with a professional broker is the way to go. They have the experience needed to identify qualified buyers, negotiate the terms of the sale, and ultimately close the deal with a reputable buyer. Selling a business takes a lot of time and energy, but if you work with a trusted business broker, you can focus on your day-to-day operations and prepare your company for the sale.
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.