You’ve been operating for a long time, and you have established a company that provides you with a stable income. It’s probably time to sell your company. The decision to sell your business is a significant one isn’t taken lightly.
To ensure you get the best value for your company, it’s vital to have a team of advisors with experience in mergers and acquisitions, including tax, legal and financial professionals. They must also be well-versed in your field, since the more specific they are, the better able they will be to assist you with the selling process.
A professional valuation is the first step in determining the value of your company is worth. A business broker or M&A firm will usually do this. This will help you to understand the importance of your company to help you establish reasonable expectations.
After you have established the value of your business, it’s time for you to begin planning for its sale. This includes addressing employee issues, concerns regarding intellectual property and potential legal questions. You may also want to look into a seller financing option. This lets you stay engaged in the business even after the sale in a capacity like an advisor or consultant as well as a beneficial way to ensure that your legacy lives on with your business. This can increase the value of your company, because a buyer is more likely to buy from you when he can be assured that you will keep the company thriving.