Follow us:

  • facebook
  • twitter
  • linkedin
  • youtube
  • instagram

 

budget-ease-logo

How to Get the Best Price When You Sell Your Business

Mar 13, 2017 10:02:20 AM Kathy Dise Small Business, Profitability

Get the Best Price When You Sell Your Business.jpgAfter attending a seminar about selling a closely held business, presented by Jim Aussem with Cavitch Familo & Durkin, I had to share some thoughts with you. At BudgetEase, we frequently have clients with goals to grow and sell their business as their primary exit plan. I hope you find these insights as valuable as we do when you start to plan your exit.

Know Your Runway

Selling your business is a full-time job and could take 6 to 12 months, or longer.

Know Your Why

As a seller, you need to articulate the why and why now in a concise answer that you use on a consistent basis.

New Call-to-action

Inform Your Advisory Team

Talk to your attorney, CPA, bankers and wealth advisors. Consider incenting employees to help improve the value with a Phantom Stock Plan or don’t tell your employees just yet.

Clean It Up

A business that appears well-managed will command a higher price. Stop running owner expenses through your company. Have sound, efficient processes (HR, marketing, operations, etc.).

Tell The Story

A sound succession plan will not only prove the viability of the numbers after the owner’s departure, but also the bloodline of the business will continue to flow with strong customer and employee relationships.

Some estimates suggest 65%-75% of all "small businesses" in the U.S., predominantly Baby Boomer-owned companies will put themselves up for sale during the next 10-15 years.

Build Your Team

  • CPA - Can help estimate the potential price points and how much you will profit
  • Financial Advisor - Can present your options for investing/retiring
  • Investment Banker - Helps find prospective buyers, and can prepare a valuation of your business
  • Outside Bookkeeper - Prepares the books and financial information

I am Kathy Dise with BudgetEase, here to make YOU more profitable.

Kathy Dise

Written by Kathy Dise

Kathy has over 30 years experience helping small businesses succeed. As a commercial lender, commercialization expert and now as a QuickBooks diamond level advisor, Kathy understands the challenges small business owners face. Her experience helps business owners quickly accomplish their financial goals. As the owner of BudgetEase, Kathy works with clients to develop a plan to efficiently process 1,000s of small transactions so owners can make informed decisions. She lives in Shaker Heights, OH with her husband Ralph and enjoys golf, curling and walking in Cleveland’s fabulous Metro Parks.