Selling your business is a huge decision that can affect your entire life and you want the best possible outcome. The deal will require meticulous planning, marketing, and the preparation of specific financial and legal documents needed to properly complete the transaction.
The first decision you must make is whom you want on your sales team. Your decision will likely vary depending on the complexity of your business, and the amount of time you are willing to devote to the sale. You may be asking yourself whether you need an accountant, an attorney, or an entire team, including appraisers, brokers, and consultants. To answer this question, you must first understand how each of these particular roles fits into the business selling process:
Business Brokers can be especially beneficial for hard-to-price businesses. Brokers and appraisers can help determine the value of your business as well as the associated asking price. Reputable Business Brokers require commissions. However, those will pale in comparison to the value of the services they provide and the post-sale profit they can help generate.
Remember, a strong business requires strong leadership, and only a great leader can ensure a great sale! However, having the right team in place can make the selling process a whole lot easier.