We talked about how to go about selling your business in our last article but, at the end of the day, the bottom-line is PRICE. As you sell your business, it goes without saying that you want to sell it for the most money that you can get, especially after all the effort that you have put into the company. For that to happen, though, you need to take into consideration some factors. While it is a given that you need to make your due preparations such as fixing up your financial books and your paper, you also need to make sure that your business is actually PROFITABLE because, at the end of the day, that’s what your buyer is going to look at. If the company seems to be able to promise a good steady stream of revenue then that just makes it all the more appealing.
Another thing you can leverage on is your position in the industry. If you are a strong player in the industry or have a unique competitive advantage as compared to all the other players, then that boosts up the price of your sell. Of course, you will need to back this up with facts, trends, and numbers to your potential buyer but that should be easy enough especially if you show your sales data. If you also have access to competitor data, you can also compare your numbers side-by-side to emphasize why your company is worth buying.
These are a few among many things that you need to keep in mind to get the best price for selling your business. It’s a tedious process but can lead to great rewards especially for something that you’ve invested in.
About Brightblue Transition Solutions
Located on Vancouver’s North Shore we are the premier business broker in the lower mainland, contact us if you need any help buying or selling a business in the greater Vancouver or lower mainland areas.