Selling Your Business

By Walter Goldman, President Goldkap Consulting, & Rockland SCORE Mentor

Preparing for the sale of your business is a difficult exit strategy. Below are the most common things you need to successfully value and market your business.

Where do you start?
The sale price depends on the assets included, accurate multi-year financials, people on staff expected to stay after the sale and years of sweat equity. Pricing it correctly usually involves working with a professional in your specific business that understands multiples, the value of the products, technology and equipment you are selling along with the accounts receivable, liabilities, revenue and the goodwill attached to your business.

As you can imagine this is actually a pretty complex group of calculations and of course it still needs to stand the test of market demand. There are always many businesses for sale but they are not in demand because they are in a dying industry, or require long hours to be open or have low barriers to entry or have other problems making them unattractive to prospective buyers.

Are you part of the “deal”?

To continue, visit: Rockland.SCORE.org.