Selling Your Business
There are many reasons to sell a business. Sometimes you’re tired of the grind. Sometimes an illness or other life-changing event gets in the way. Sometimes you just need to become “liquid” to grab another business opportunity. The reasons people sell are diverse, but one thing that is common to all sellers is that they want the best price possible. That means if you’re a business owner looking to unload your company, you need to talk to us!
As an entrepreneur starting a technology based company, plenty of thought went into the products, the customers and the demographics of the market. However, I should have also thought about my ultimate exit strategy and try to imagine under what conditions I’d like to sell. Although it was early on in the venture, I should also have tried to estimate what I ultimately hoped to sell the company for in terms of dollars and cents as I teach my clients. I learned this fact, fortunately, before it was too late. I learned it and PROFITED tremendously from it. You can too if you choose to work with us!
You see, I, personally have taken a business from $0 to over $300,000 in a 36 month time timetable! (Yes, I say $0 because after I got back what I had put into the business my “walk away” money would have been nearly nothing.) The difference between what I was initially valuated at and eventually sold for was almost TEN FOLD!
After a few years of being in this particular service industry, I started to get restless. I had good products on the shelves, fine technicians working for me, a large customer list and a great location. I had earned my recognition as a Technology authority with the local Chamber of Commerce and was asked to speak a few times a month to the membership on technology issues. As a business, I felt we were “peaking”. There were signs the local economy was also starting to peak and a “pull back” was inevitable. Rather than ride it out, my thought was to sell.
So, I brought a local big name business broker in for an opinion of value and to my surprise the valuation wasn’t nearly what I thought or needed to exit the business comfortably. I wasn’t going to be a slave to my business because I couldn’t get enough to sell it!
In the coming months I had unlocked the secret of how to sell any business for maximum profit.
Understand this: it doesn’t matter what equipment you have, how great your location may be or even that you have great margins! To a certain extent, having a great bottom line isn’t necessarily going to net you more at the sale either. There are a few vital “must do” tactics that you have to grasp and execute long before you place the business for sale for Top Dollar and only a handful of “hands on” business owners, like myself, can show you how!
Please call us to see and don’t waste precious time! Work with someone who knows how to get our business where it needs to be for you and your family.