Vested Business Brokers: #1 Tip to Selling Your Business Quickly
Selling Your Business? Better Get Your Financial House in Order First
This is Nathan Goldstein with Vested Business Brokers. We help people buy and sell private, profitable businesses. Just recently I was asked a question, “Why do most private businesses not sell?”
The answer is simple. You see, we sell imperfect products to imperfect people. Many times a business will not sell because the seller does not have the appropriate financial house in order and instead their financial books and records are a mess because they have been kept improperly, or neglected for many years.
The quality and accuracy of you financial records will be a major factor in how quickly you're able to sell you business, and for how much. Therefore, it is really important that you have your financial house in order. What does this mean? Well, first make sure you have three years of your tax returns available for the buyer's attorney and /or accountant to analyze. Also, make sure that you have your business profile all buttoned up. That is...that if you say that you are going to make $100,000 a year, $200,000, or $500,000 a year, that you will be able to prove that number to a potential buyer. If you can’t prove it you will never be able to get the multiple on it.
At Vested Business Brokers we have a saying, “You will never find a stupid buyer and you will never find a stupid seller.” It is always where the beach meets the water on the sand and it is always important that you are honest and ethical when you are selling your business. You never want to deceive anybody because you want them to buy the business and be comfortable and happy that they bought it.
I can tell you from my experience that we very rarely get a business back from a buyer who bought the business from us. Typically a person will own a business six, seven, eight, or ten years before he will come out and sell it again.
What accounts for this kind of success? We make sure our sellers get their financial house in order before they make it available to the universe of potential buyers that we attract to us from our website: http://www.Vestedbb.com.
Make sure that you have your financial house in order if you are looking to sell your business. If you tell a potential buyer that you are making one hundred thousand dollars a year, you have to prove to them how much you are making. We can help you.
If you'd like our help in preparing your business for sale you can give our office a call today at: (877) 735-5224
This is Nathan Goldstein with Vested Business Brokers. We help people buy and sell private, profitable businesses. Just recently I was asked a question, “Why do most private businesses not sell?”
The answer is simple. You see, we sell imperfect products to imperfect people. Many times a business will not sell because the seller does not have the appropriate financial house in order and instead their financial books and records are a mess because they have been kept improperly, or neglected for many years.
The quality and accuracy of you financial records will be a major factor in how quickly you're able to sell you business, and for how much. Therefore, it is really important that you have your financial house in order. What does this mean? Well, first make sure you have three years of your tax returns available for the buyer's attorney and /or accountant to analyze. Also, make sure that you have your business profile all buttoned up. That is...that if you say that you are going to make $100,000 a year, $200,000, or $500,000 a year, that you will be able to prove that number to a potential buyer. If you can’t prove it you will never be able to get the multiple on it.
At Vested Business Brokers we have a saying, “You will never find a stupid buyer and you will never find a stupid seller.” It is always where the beach meets the water on the sand and it is always important that you are honest and ethical when you are selling your business. You never want to deceive anybody because you want them to buy the business and be comfortable and happy that they bought it.
I can tell you from my experience that we very rarely get a business back from a buyer who bought the business from us. Typically a person will own a business six, seven, eight, or ten years before he will come out and sell it again.
What accounts for this kind of success? We make sure our sellers get their financial house in order before they make it available to the universe of potential buyers that we attract to us from our website: http://www.Vestedbb.com.
Make sure that you have your financial house in order if you are looking to sell your business. If you tell a potential buyer that you are making one hundred thousand dollars a year, you have to prove to them how much you are making. We can help you.
If you'd like our help in preparing your business for sale you can give our office a call today at: (877) 735-5224
