Congratulations! You have worked hard at building your business and have earned the luxury of enjoying a sale of your successful business entity. Enterprise Brokers can custom tailor solutions to assist in the liquidation of your enterprise so you can focus on your next opportunity. Though no two business sales are alike, listed below are common threads that are useful in your business listing. Thank you.
Decide on a personal level if selling your business is in your best interest. If so, discuss the changes to be expected with your inner circle.
Hire the best TEAM that you can. This includes but is not limited to your accountant, attorney, appraiser, broker, and banker. Have all members coordinated to streamline the sale of your business.
Gather documents. This would include copies of leases, business licenses, permits, tax returns, profit and loss statements, trademarks, list of assets, and any other pertanent information exclusive to your business. Have the S1 Form -Enterprise BROKERS BASIC QUESTIONARE FOR SELLERS (found at the bottom of this page) forwarded via fax to 866-206-2625 to list your business for sale with Enterprise Brokers.
Have a certified business appraisal completed. Though this is an added cost to your sale, almost every business should be appraised by a state licensed appraiser. Business Brokers can provide a value of opinion, however are not permited to grant an appraised value unless licensed as such.
Correct any minor issues in the business. Just as a home has "curb appeal" when listed for sale, a business should also have any minor issues completed. Items of thought would be a good cleaning, up to date financials and good standing with vendors.
Complete all listing paperwork at time of listing if utilizing a business broker. It is always in a sellers best interest to have all available documentation available from day one of an active listing to maximize quality of buyer interest.
Stay in contact with your team. As a business has many activites that alter the financials, aspects, value, etc., make sure to have a monthly minimal contact for current information to your team.
Trust in your Team. You have spent time to format your team...so let them complete the task for you.
Provide any requested documents in a quick manor. After signing of your purchase for sale contract, lenders, appraisers, attorneys, etc. may require other documents to complete the sale transfer. Be prepared for this event as it is normal.
Enjoy your new adventure and take pride in a successful sale of your business!