Getting the Highest Sales Price for Your Business Requires Preparation
It is important to properly prepare your business before you go to market in order to get the highest sales price. Harvest business brokers actively works with business sellers in Maryland and New Jersey.
Before selling your business you should clean it up just as you would a house before you sell. Yes – this does include basic polishing and painting. It also includes making sure your company financial statements show a profit.
There a lots of incremental improvements that can be made to a business. Some, often referred to as, “putting lipstick on a pig” are those that might be done at the last minute. Other things that should be reviewed in order to position your business:
- Should you sell all or part of the business? Sometimes businesses have different divisions or locations. Sometimes selling the parts separate produces a much higher price.
- Perhaps your customer list will have more value to a competitor than your product. Not usually but think about it.
- If you own the real estate your business uses you need to determine if you should sell the real estate in one transaction with the business.
Real Improvements or lipstick on a pig? In any event make sure you look at all the options before you go to market in order to get the highest price.