Selling A Business
If you are considering selling a business you should be aware that this is likely
to be most important financial deal any business owner will ever make, and potentially one of the most stressful. There is also the emotional attachment to the business that can make=e the sale difficult, particularly if the business has been built from scratch. Unless you have sold a business before you will have no experience to draw on and won't know what to expect.
There are many things to consider when selling a business and many options open to you. This article is aimed at providing some of the options available to you and your business.
One of the first and most important things to consider is "Is selling my business the right option for me?"
Before putting your business up for sale you must give careful consideration to your reasons for doing so. You will probably be asked about your reasons for selling by potential purchasers, who will need to be comfortable with your answers.
You need to consider four key questions:
*What are the objectives of the business *What effects on other parties will the sale of the business have, *What are my objectives as the business owner, For example, you might want to realise some or all of your investment in the business to fund your *What are my objectives as manager, For example, you might want to retire as soon as possible or prefer to have an ongoing involvement with the business.
Selling part or all of the business may be the best way to achieve your objectives. You might, for instance, want to sell your business outright, leaving you with no financial or management involvement.
Furthermore, you may discover that a sale in any form is not the best way to move forwards as the difficulties in doing so may be too great or time consuming or just not financially viable to proceed.
There are a number of exit routes and exit strategy options available to you, including handing down the business to a friend or relative and retiring from the working life altogether
by: Paul Myers.
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