It is therefore finally came time to sell the company. After years of investing your time and many thousands of dollars, has been successful, to enjoy the provision for your needs and desires, and it is time for the fruits of your labor. Where to start?
A good time to start thinking about is the sale of a business immediately after departure, if it shows signs of early success and self-sustaining. Even if you’ve donated their offspring or your partner to plan, it is never too early to discuss what will happen to believe.
The first step is to take your time – selling a business is a complex process, and you’ll once. Confidentiality is a necessity at this stage, as word of an imminent sale may have repercussions among employees and business partners (suppliers, customers, etc.) as well.
Your position in the company must also be considered as a point. If you are a sole proprietor, the decision is yours alone. However, if you have a partner or a member of the board, the sale of your share of the business involves broader considerations.
Find a good broker is worth any amount of time required to find that you are comfortable. Check the Better Business Bureau for any investigation of history, and receive referrals from other entrepreneurs or associations such as the International Association of Business Brokers (IBBA). It is a non-profit professional business brokers providing education, conferences, job titles and the networking opportunities “(IBBA), as well as professional certifications and has over 1300 members .
Then, an expert professional must be consulted, and the sale of a house, a professional evaluation is just a trading value to begin with. Notice, however an assessment is an estimated fair value of the “hard assets of a business, and the company’s market value may be higher or lower a company does is that someone else will pay.
Determination of key terms and price are issues that need to go to you, you work with your broker, but a few basic factors come into play: what do you want to get the sale? ongoing treatment? sum? Stock options? This stage is often neglected until late in the negotiations that have often been at the expense of the seller.
Funding for the sale is normally about 90% left to the seller. If you can not or will not be willing to cover the costs of marketing, it can not sell a good time.
Once you have established your broker and a buyer away and agree on a price, a letter of intent. This letter describes the conditions and prices in a non-binding policy document and allows the buyer time to thoroughly investigate the company. This process is subject to due diligence, the burden is the discovery, brought to the buyer and the buyer’s agent.
is completed after the discovery process of the satisfaction of both parties, the purchase agreement is established. This set of documents in a formal agreement between the buyer and the seller creates in terms of price, terms and other legal details. Once the respective lawyers of the details of completed and met the legal requirements of the State in connection with the sale, purchase contract is signed, the closing of finalized documents, and the sale is completed. If all goes well, it’s time to breathe a sigh of relief and start planning what to do with all the free time to do it!