Sell My Business Today

How to “sell my business” is a question we often get. Selling a company is difficult unless you have a systematic, proven method. The success rate for selling businesses is only 40%.  You have likely put in blood, sweat, and tears and deserve to be compensated. The low success rate is because technology has changed how businesses are sold. Business brokers used to run ads and set up meetings to show businesses. They would then wait for a buyer to make an offer. This is not an efficient approach because technology has advanced in a way that demands more speed and transparency. Today’s technology allows proactive marketing and advertising to highly targeted people most likely to buy your business. You can now share images, documents, financials, and videos instantly. You can also sign agreements instantaneously while maintaining 100% confidentiality. 

 

Business Buyers

Business buyers can search for competing businesses online without picking up a phone or speaking to anyone. Many business brokers still rely on outdated methods that are too expensive and ineffective. We have solved the problem of getting businesses sold by creating a system that all but guarantees that your business will sell.

 

The Truth About Selling a Business

We have developed a better way to sell businesses that reduce the time on the market while keeping the transaction secret. We use the internet, pinpoint advertising, analytics, and technology to get your business sold at the highest price. Our Business Selling System is the new way to sell a business that is light years ahead. Call us now if you have any questions about our Business Selling System or want to know how much your business will sell for in today’s market. Get a free preliminary appraisal to know what your company is worth. We only need a few pieces of information to determine the likely price your business will be sold.

 

Reasons Most Companies Don’t Sell & How We Solved These Problems

 

No Proven Method

There must be a proven systematic approach to get the desired results with a high failure rate when selling a small business.

Priced wrong

Get an appraisal so you know the market value of your company. Use comparable sales data, debt capacity, multiples of income, discounted cash flow, and other pricing models to precisely value your business. 

Not enough advertising

You will need to market your business for sale on the largest business-for-sale websites to get maximum exposure and high demand for your company.

Unrealistic Timeline

It takes an average of six to seven months to sell a business. You must commit to a long-term strategy for up to one year to sell a company at market value. Of course, you could discount and sell faster, but we don’t recommend giving away money.

 

No buyers database

Use multiple sources for buyers that include “boolean Searches. This is a powerful way to search massive amounts of data to locate buyers by location, age, industry, education, experience, interest, and more. Develop a profile of the person most likely to pay you for your business.  Then, use this information to identify and contact the ideal candidates.

No exposure to social media

You must engage where people spend their time, who are most likely to buy your business. There are 2.5 billion people on Facebook, 500 million on Linkedin, and 330 million users on Twitter. You can’t ignore millions of people on social media who may be your best buyers.

Not maintaining confidentiality

The business can suffer damage if customers, suppliers, or vendors learn the company is on the market before a deal is signed. Maintain complete secrecy during the entire process or risk harm to the business and your deal falling through.

Properly recast financials

Tax returns and income statements are misleading because accountants minimize taxable income. Tax returns often show little profit or substantial losses, but the company could be generating reliable cash flow. Buyers won’t see the cash flow if the proper adjustments are not made. Tax savings are significant, but it’s harmful when it comes time to sell your company. Your financials should be expertly recast so buyers see the financial benefit of owning your company. 

Not qualifying buyers financially

We have relationships with traditional and non-traditional lenders to get buyers the cash they need to pay you. Our lenders will tell us how much a buyer can borrow based on credit score, down payment, and net worth. We can also fund the purchase with buyer retirement accounts.

Lack of documentation

Create a business memorandum that details the business operations and financial performance. Consider it a written walk-thru of your business. You do not need to waste time repeatedly showing your business to tire kickers and nosey people who don’t have the money or skill to run your business. Focus on serious buyers with the money to make an offer before spending too much time with them.

Lack of deal structure

Every business is unique, and one approach does not fit all when selling a business. Some companies won’t sell because the deal is not structured correctly to attract buyers. The deal must make sense to lenders, buyers, sellers, and stakeholders. The deal structure includes cash and non-cash items. Items like a transition period, consulting agreements, training, and employee agreements are some elements that may be considered part of the transaction.

 

 

Sell My Business Systematic Approach

The first step to selling your business is to know what it’s worth. Pricing your business wrong can cause you to leave too much money on the table. The other problem is that an unrealistic price will make buyers reject your business and never make any offers. Bizprofitpro offers a free preliminary appraisal, so you know what price to market your business.