We all know about business owners that have built up their business and then sold it on and made a lot of money. This might be something that you would like to do with your business. If you feel that you have value in your business and that you will be able to raise a significant amount of money form it, then it could be worth a try. However, it can seem a daunting task knowing what to do and where to start. Some of the tips below may help you.
Make sure the business is ready
It is really important to make sure that everything in the business is ready for the sale. For example you will want to make sure that the books are all up to date, the website is up to date as well and that you are prepared to answer any questions that you are asked about the business. If you have staff then you will need to prepare them as well and it may be necessary to prepare customers as well, depending on how your business works. Think about what the potential buyers may need to know and prepare for that, perhaps putting together procedures or information that they will find useful. [Read more…]