| Statistics |
Total online: 1 Guests: 1 Users: 0 |
|
Main » 2013 » August » 16 » Preparing Your Business For Sale by Anne Brown Charlotte Olympia
12:22 PM Preparing Your Business For Sale by Anne Brown Charlotte Olympia |
| Preparing Your Business For Sale by Anne Brown If you are a business owner, the
decision to sell a business is a major step to take. Preparing to list your
business for sale is a major undertaking in itself and steps should be taken to
ensure that your company sells as quickly as possible and that you achieve the
best selling price.Here is a list of some things you should keep in mind before
your list your business for sale.Equipment and machinery maintenanceIt is
important to ensure that your equipment is properly operating and serviced. A
potential buyer Charlotte Olympia
Kitty Flats will investigate the condition of your equipment and if it is
not operating properly that could raise a red flag. If you have a service or
maintenance contract it is advisable to have these records available.Overall
appearance of your businessIt is highly advisable that your business for sale be
kept in a neat and tidy condition. All customer areas as well as plant or shop
space should be well organized, and in immaculate condition. An unkempt business
operation is an indicator to a business buyer that perhaps the overall business
is not properly manages.Relevant operating procedures documentationA business
buyer may be intimidated by the prospect of owning and operating a business so
it would be advisable to set his or her mind at ease by providing documentation
on critical procedures required to run the business. Documented operating
procedures should post by haiyan701 be prepared prior to listing your business
for sale.Information about your customersOne of the main questions a buyer will
ask about your company will be about your customers. How well do you know your
customer base? You should know who your top customers are, what percentage of
sales your best customers represent and make note of any special circumstances
(example � long term customer contracts, major new accounts, etc).Staffing
requirementsBe prepared to discuss staffing issues with a business buyer. You
should know the current level of staffing, what each person does (position
descriptions are helpful), how much payroll represents and if there are any
seasonal issues or special skills needed with respect to your employees.Take a
physical inventoryJust before your put your business Charlotte Olympia for sale you
should do a thorough inventory. Buyers will ask about inventory levels so it is
recommended to have an accurate record to preset when asked. Discard any
unsellable items and keep your stock area organized and tidy.Be open about any
legal issuesBe forthright about any legal issues that the company may be facing.
Offer this information to potential buyers. The worst thing you can do when you
list your business for sale is to keep information hidden. A prudent buyer will
uncover these issues during due diligence. Frankness is the best policy.Find
professionalsBesides a business broker, you will need to retain the services of
a lawyer and accountant in order to sell your business. A lawyer is a key person
to retain to review all contracts and agreements before you sign them. An
accountant will help your with the accounting issues, financial due diligence
and taxation issues that are triggered at a business sale.Financial
informationYou will need to have some significant financial information in order
if you want to successfully list your business for sale and attract good buyers.
Ideally, you should have 3-years of financial statements that have been prepared
by an accountant. You will also need to have income tax returns, the most recent
period�s P&L, sales tax returns, bank statements, employment tax filings,
A/R and A/P aging schedules, inventory schedule and asset list � among other
things!Listing your business for sale is a big decision. Getting prepared before
you list your company with a business broker is the best advantage you can have
to sell your business with Charlotte Olympia sale
confidence.
<
|
|
Views: 295 |
Added by: fgadf
| Rating: 0.0/0 |
|
|
|
