Seller FAQ

How to sell your business?

 

Selling your business does not need to be a long, difficult or tedious process. With these eight simple steps, you can be on your way to selling your business quickly.

 

  1. Hire a business broker

Hiring a business broker should be the first thing you do. An advisor will guide you during the entire process. Consider an experienced advisor from Transworld Business Advisors.

 

  1. Conduct a business valuation and determine what your business is worth

A business is often worth a certain multiple of its profit. That said, there are numerous ways to perform a business valuation. A business broker can help you determine the right equation and process to value your specific business.

 

  1. Prepare and organize your financials

A buyer will want to take a look at your financials – they cannot just take your word for it. Because of that, you need to preemptively organize your financials.

 

  1. Draft an executive summary of your business

This is a document that outlines what your business is, the important financials to note, and answers some frequently asked questions.

 

  1. Put your business on the market

Your business broker can help list your business in the right channels to attract the right buyers.

 

  1. Vet offers from potential buyers

As you receive offers, it is important to sift through them in order to determine which is the best to begin the negotiation process.

 

  1. Let the potential buyer vet you

After you have begun the negotiation process, a buyer needs anywhere from 60-120 days to verify your financial documents and review the contract with their broker and lawyer.

 

  1. Close the deal

Finally, it is time to sign on the dotted line!