Some advice before you sell a business- “It’s not what you sell it for, it’s what you get to keep after the sale.” When starting to think about selling, owners should take steps to “dress up” their business.
…Reduce unnecessary assets
…Address environmental issues
…Direct responsibilities to qualified employees
…Understand tax strategies
…Identify your weaknesses as well as your strengths
Both price and tax consequences can be crucial in maximizing the proceeds of a business sale. For most owners, their business is their most valuable asset. Having a valuation done if you are planning a sale in the future is the first step. We can help with that.