Understanding The Process When You Sell Your Business

Developing a successful business in Jacksonville, FL, over the years makes a business owner a smart, independent and very savvy individual in his or her field. When it is time to sell the business to retire, try something new or just to get away from the stress that business ownership entails, finding a top business broker to sell your business should be a priority.

Sometimes, business owners believe that they are best suited to sell their own business. There are a lot of reasons why this is rarely a good decision, not the least is the lack of experience and expertise in these often very complex transactions.

There are several steps when you choose to sell your business. Failing to use a broker could, at best, cost you money on the sale. As a worstcase scenario, you may find propriety information is now public or that the business sale, due to some oversight, falls through.

The Basics

While each business is different, the sale of any business in Jacksonville, FL, will have the same basic steps. These will include:

  • Valuation – this is an objective look at the value of the business including both the tangible assets as well as intangible assets. A business broker can complete the valuation and also look closely at the market as a starting point for pricing the business.
  • Marketing – finding the ideal buyer starts with knowing who to talk to and which buyers are interested in companies like yours. When you sell your business, it will be important to carefully screen buyers and to also keep the sale private until it is completed.
  • Negotiating the offer – your business broker will assist in negotiations on any offers by qualified buyers. Often this is a very involved process and working with someone with expertise in this area is critical.

Last, there will need to be a sales contract developed to close the scale. Understanding the language that needs to be in the sale closing documents will be important to provide protection and security for you during and after the sale.

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