Louisville KY: CGK Business Sales
For the best experience at this level of mergers and acquisitions, call CGK Business Sales today. This is likely to be one of the largest financial transactions of your life. Selling a business can be hard and complicated. Can you afford to trust this to someone without the proper financial acumen? Other Louisville business brokers and M&A advisors just don’t get it done.
- We have worked at some of the largest financial institutions on the planet
- We’ve brought these best practices down to the small and medium-sized mergers and acquisitions market
- Our proprietary process works extremely well at this level. While less than 20% of listed businesses sell, we sell more than 85%
- Why isn’t it 100%? Sometimes, the business falls apart during the sales process. Otherwise, we sell EVERY, SINGLE ONE
Call us at (502) 287- 0332 or email us below for a free, confidential consultation today.
Selling A Business
Selling a business in Louisville KY is a complex endeavor that may require the assistance of accountants, attorneys, mergers and acquisition advisors or Louisville business brokers. Whether the owner profits depends on the sale’s timing, the strength and structure of the business, and the reason for the sale. Reviewing these considerations can help a business seller build a good plan and negotiate successfully.
The Reasoning Behind the Sale
Potential buyers ask many questions, but one of the first is why the owner has decided to sell. Owners sell companies for one or more of the following reasons:
- Illness or death
- Partnership disputes
- Being overworked
Some owners sell when the business isn’t turning a profit, but this shrinks the pool of potential buyers. A business broker in Louisville KY will consider the company’s readiness, its marketability, and the owner’s timing.
The Sale’s Timing
Business owners should get ready for the sale at least a year or so before it happens. The preparation phase helps the seller improve the company’s structure, customer base, and financial records to increase its profitability. Such improvements can make the buyer’s transition easier and keep things running smoothly before, during, and after the sale.
Next, the owner should determine the company’s worth by asking an appraiser for a valuation. The appraiser will create a detailed explanation of the business’ value, which lends credibility to the seller’s asking price.
Using a Business Broker
While it’s possible to sell a business without help, hiring a Louisville KY business broker is the easiest way to go. The broker can free up more of the owner’s time, which can be spent on keeping the company running. Brokers can keep sales confidential and help sellers get a higher price. However, sellers should clearly communicate their expectations beforehand.
Sellers should gather their tax returns and finance statements for the past three or four years and review them with an accountant’s help. Additionally, the owner should list equipment, supplies, and contacts to be sold with the company. Finally, sellers should make copies of these papers for distribution to qualified, interested buyers.
Finding the Right Buyer
Business sales can take up to two years, and finding the right buyer may be challenging. Brokers can advertise to the right buyer pool, and they can keep the process moving by:
- Getting two or three prospective buyers in case the first deal falls through
- Staying in contact with those buyers
The broker can prequalify a potential buyer before disclosing information about the business. While there’s some negotiating room, sellers and brokers should stand firm on a reasonable price that takes the company’s future worth into consideration.
The Bottom Line
Business sales are time-consuming, emotional ventures. A competitive market or a good reason for the sale can lessen the burden, as can the help offered by a Louisville business broker. Call today to set up a consultation or visit the firm’s website for more information on how a business broker’s advice can streamline the process of selling a company.
With over twenty years of experience in business and finance, Greg Knox is uniquely qualified to sell your business. He has worked at such places as Wachovia Bank, Deutsche Bank, and T. Rowe Price, in addition to his private equity, investment banking, hedge fund, and institutional trading experience. Greg has owned multiple businesses, both start-ups and purchases from other existing business owners. These businesses gave him special insight into what it is like to be a business owner and the sales process that followed. Previous to CGK, Greg spent numerous years as a mergers and acquisitions middle-market investment banker and at a large business brokerage, where he was consistently a top M&A advisor worldwide for three consecutive years. Mr. Knox has a Bachelor of Arts degree from Franklin & Marshall College in Business Administration and from Cornell University, he holds a Master of Business Administration (MBA). Greg currently holds the Series 79 (investment banking), 63, & 55 licences.
312 S 4th St
Louisville, KY 40202
phone: (502) 287- 0332