Start Planning for the Sale as Early as Possible
When a business owner decides to retire or to start a new business, the first thought they often have is, will it be possible to sell my business? While starting with the end in mind is often a smart move, preparing for a sale isn’t going to happen overnight. In fact, it could take up to two years from the thought of selling to the actual sale. If they’ve decided to sell the business, they will want to make sure they start planning right away, and this could mean finding the right help.
Get Help to Sell the Business
Many business owners who are interested in selling a business will want to make sure they have help from the very beginning. A business broker or mergers and acquisitions advisor is going to be able to help, whether they’re merging their business with an existing one as part of the sale, or if they’re selling it to another interested party. They can receive help determining the value of the business, creating a data room for organizing paperwork and financial statements, finding a buyer for the business, and creating proper marketing documents.
Determine the Selling Price of the Business and the Terms
When the business owner is ready to sell, the first step in determining how to sell a business is for them to consider how much they want to get for the business. Plus, in addition to determining the value of the business, they should think about how long they will train or consult, and the terms they’ll accept, as part of the sale. Many sellers think a buyer is just going to drop a bag of money on their doorstep and let them walk away? Think again. The terms and conditions to the sale are just as important as the headline sale price. What good is a high sales price if the seller never receives the money? Plus, the current owner might want to think about any conditions they might have for who can purchase it or who their ideal buyer might be? This will help them make sure they’re ready to start looking for the right buyer. This is something the mergers and acquisitions advisor can help them with to ensure the business is ready to be sold before a buyer is found.
Start Looking for a Buyer for the Business
The next thing an M&A advisor will do is look for a buyer for the business. This can be the most difficult part of trying to sell a business because they’ll want to make sure they find a buyer who is serious about taking over the business and who is going to be willing to pay the offered price or negotiate to a reasonable price for the business. If they have a mergers and acquisitions advisor helping them, the business owner can get the help they need to find the right buyer and complete the sale quickly, or, at all.
Frequently Asked Questions
We’re sure you have a ton of questions about the selling process. If you head over to our Frequently Asked Questions (FAQ) page, we’ll try to answer some of our most commonly asked questions for you. The answers to these questions might give you a better feel for the who, what, why’s, when’s, and how’s of selling your business. Click on the link above and check out those questions and answers, then contact us to start a no-obligation conversation.
For many business owners, the idea of selling a business can be daunting because it’s a long process and there’s a lot they need to do to ensure they’re prepared. If you’re ready to sell your business, make sure you talk to a mergers and acquisitions advisor today so you can start getting the help you need. They’ll help with every step to ensure your business is sold as quickly as possible, help you get the right terms, and as much money as possible for it. Call CGK Business Sales today or confidentially email us below to start the conversation.
What They’re Saying
After doing an extensive evaluation and comparing their prior work and sale strategy to that of several other business brokers in the Austin/Texas area, we selected CGK Business Sales to represent us in the sale of our business. Their credentials, knowledge, experience and enthusiasm about our business set them apart. They helped us understand the sale dynamics of the M&A mid-market and created realistic valuation expectations. We concluded their ability to understand and promote our very successful, high growth but unusual business, would result in the best outcome. We were right in our assessment. Derik located multiple interested strategic buyers that produced more than one serious offer. The negotiations with the acquiring company were tough with some significant bumps that Greg and Derik’s experience helped us overcome. We got a great result for our employees and for the owners. We would recommend them without reservation.Bob TaylorCGK Business Sales Sold Bob's Business
Having never sold a business before I had no idea what to expect. We chose CGK because of their presentation, preparation and their energy to sell our business/property. Wes was outstanding in walking us through each step, offering us guidance, perspective and a sounding board when needed. There were what seemed to be insurmountable obstacles at times during this process. Without Wes's dedication, perseverance, ingenuity and his ability to work with people the sale would not have happened. I would strongly recommend Wes and CGK Business Sales. Top notch customer service.Suzanne PiispanenCGK Business Sales Sold Suzanne's Business
Derik was awesome to work with. Potential buyers were well screened before been shown the business. He found us great buyers who have taken the company to the next level. I recommended him to a friend who also has a good and successful relationship with him. I can recommend him without any reservations.Dave HobsonCGK Business Sales Sold Dave's Business
Derik and Greg are true professionals. They handled the acquisition of my business professionally and efficiently. Whether buying or selling your business, I highly recommend this firm!Abe GeorgeCGK Business Sales Sold Abe's Business
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Greg Knox, CFA has spent his 20+ year career in investment banking, private equity, a hedge fund, and institutional trading, at institutions as Deutsche Bank, T. Rowe Price, and Wachovia. After his MBA at Cornell... (click Greg's picture to read more)
Derik Polay has over twenty years of experience in distressed securities and mergers and acquisitions and seven-plus years of upper-management positions at small and middle-market businesses. Derik’s previous ... (click Derik's picture to read more)
Eric Lewis has over 17 years of experience in the financial industry. He has worked for a breadth of companies ranging from investment banks to proprietary trading firms. Following his MBA at the University of Chicago, Eric... (click Eric's picture to read more)
Jason Clendaniel has been in “business” since he was seven years old. Whether mowing lawns, or delivering papers, Jason learned business from the ground up. After graduating from the United States Naval Academy... (click Jason's picture to read more)
Matthew Mistica has 13+ years of experience in finance and entrepreneurship. Matthew spent 7 years in Corporate Finance working for Chevron and Shell Oil. After his MBA at the University of Houston ... (click Matthew's picture to read more)
Wes McDonough has over 18 years of experience in both entrepreneurship and corporate finance. Previous to CGK, Wes held numerous positions, including accounting, payroll, billing, project management, and IT/Application Support at ... (click Wes' picture to read more)
Matthew Zienty has 20+ years of financial industry experience in areas ranging from institutional equity trading, currency trading, financial sales, RIA valuations, payout/loan negotiations & compliance. He has worked for ... (click Matthew's picture to read more)
David Smoot has 20 successful years working for Fortune 500 companies in sales and finance and owning his own small businesses. His leadership roles included sales, finance, managing multi-million dollar product launches, training new ... (click David's picture to read more)
Mr. Thomas “Jay” Lennon is an Air Force veteran, combat aviator, and distinguished leader with 26 years’ experience leading multi-million dollar projects, finance, and organizational transitions, inside and outside of the government.... (click Jay's picture to read more)
Lance Hupfeld has over 25 years of experience in sales and business development management. With a broad array of valuable experience, Lance has deep knowledge in healthcare consulting... (click Lance's picture to read more)