Selling a Business Involves More Than Money

Some things have to end. Just like when you run a business where success is not a guarantee and risk is always present. When it comes to business, there are some instances that make you realise you have to quit because your business is not performing the way you expected. This is the time when you have to sell it.

So you have already decided to sell your business. Now what? Do you know where to start? Most small business owners have never sold a business before and have many questions about the selling process.

When selling a business, one of the first and most important things to know is the worth of your small business – this is the most commonly asked question. The value of a business depends on many factors including the profit, the current economic situation, the market and much more. Although this is a very straight forward question, the answer is not straight forward.

Secondly, it is also important for you to know the length of time it will take for you to sell your business. Usually, it takes a year or longer for a business to be sold. Finding the ideal buyer takes time and choosing the wrong buyer can leave you wishing you never sold the business in the first place. It is well worth the time to find the right buyer and only sell when there is a qualified buyer.

For more on selling a business, you can read this article from NY Times: