There are Four Things You MUST Do Before You Sell Your Business
- Clean up your books – Ensure that your internal financial statements and tax returns are accurate. Document your earnings by recording 100% of sales, taking a salary on the books, showing as much net profit as possible and minimizing non-business related discretionary expenses. These steps will help ensure the sale is financeable by a third party Lender and that you receive the best price with the most favorable terms.
- Decrease the business dependence on YOU – Train key employees and delegate responsibilities so a new owner or manager can more easily take your place.
- Keep growing – Don’t wait until after your largest customer leaves or your sales decline to market your business for sale. An increasing sales trend is essential if you want to get top dollar for your business.
- Develop an Exit Strategy – Start now, even if you don’t plan to sell for another 1-3 years. Acquisition Experts can value your business and help you develop a personal transition plan that maximizes your financial gain and simplifies the process of selling your business.
Contact us today to start developing your personal exit strategy.
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