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Find yourself daydreaming of more time on your hands? Does the idea of making a profit on the company you’ve built sound appealing? If so, there’s never been a better time to sell your small business.

Every day small business owners reach out to us with questions about our process. Naturally, they wonder about how to capitalize on their company, how long the process may take, and if the market trends indicate now is the right time.

The truth is, business sales have never been better and show little signs of slowing. With that in mind, we think it’s crucial for small business owners to ask themselves the following before selling:

Question 1: Why Are You Selling?

There are a few important reasons to ask yourself this question. First, this will be important to answer for the next owner. Potential buyers want to know why you are exiting to ensure they aren’t rushing in to save a dying company.

You’ll also want to determine what you plan to do after the sale. Most of the clients we work with are used to long hours, days, and even years of hard work. Launching into something new or finding a way to enjoy downtime may be an adjustment. At Alliant, we want to be sure you don’t have any regrets at the end of the day.

Finally, your goals and objectives will also help outline the terms of negotiation. Do you need a particular income for retirement? Are you willing to stay on part-time or as a consultant to ease the transition? These are all points to consider during offers and negotiation.

Question 2: Is Your Business Ready To Sell?

While you may be ready to sell today, your business may not be. In order to get the maximum value possible for your business you’ll want to avoid any potential obstacles by planning well in advance.

We typically advise clients to take several steps prior to listing the business to make sure that it’s as appealing as possible for potential buyers. That involves organizing, planning, and committing to the business again even when it’s for sale. This can take anywhere from a couple of months to over a year, depending on how “in shape” the business already is.

Question 3: How Will You Sell?

We know as a business owner you’ve had to wear multiple hats and can tackle just about anything thrown your way. However, selling your company on your own can be flat out overwhelming. From determining the value of your business to getting it in front of the right buyers, there are multiple moving parts and pieces of this process to consider.

Some business owners already have a buyer in mind – an employee or perhaps a competitor in the same industry. This can seem like an easy transition at the outset, but negotiations can bring unforeseen complications even in the best of circumstances. Worse still is when confidentiality is broken and employees or clients start to react, impacting the overall value of the business.

At Alliant, it’s our job to sell your business the right way so you can get paid what you deserve.  If you’d like a team that prioritizes confidentiality and integrity, contact us to speak with one of our experienced business brokers today for a free consultation.