How to Sell a Business
Selling Your Business for highest amount depends on P.P.I.
P.P.I = Plan – Prepare – Implement
This short video explains what to do – OR.. read the post below!
So you want to sell your business?
That’s fantastic news and all those years of hard work are about to pay you dividends aren’t they?
Well actually, that depends on a lot of things because most business owners make the same mistakes when it comes to valuing & selling their business.
Lets start with the house sale analogy:
I’m guessing you have sold a house at some point in your life (or maybe sold lots of houses) and the system goes like this:
Ok, we are going to sell the house. So let’s make a list of things that need mending, fixing, painting, replacing, changing etc.
You create a list, maybe something like this:
- Re hang the front gates, paint the railings and swap out the dodgy broken fence panel
- Clear the drive way of weeds, repair the front door bell that stopped working years ago
- Repaint the lounge, replace the carpets for something more “neutral”
- Take out some of the furniture to de-clutter the place (make it look bigger)
Look, you get the picture here, don’t you?
So why is it that when most business owners decide they want to sell their, most valuable of assets, they completely ignore the above analogy because (somehow) this doesn’t apply to selling a business. You just contact a business broker and say “get it sold”
WRONG! – So wrong and this could potentially cost you thousands!
Tell me, would you walk past £50 on the floor (No, of course not)
Then why are some business owners prepared to walk past “tens of thousands” of their own money?)
It’s the same principle, isn’t it?
IMPORTANT – Please read this if nothing else!
Your business needs to be prepared for sale like that house you are so diligently “doing up” to attract a buyer – but it must be the right kind of buyer to get the right kind of price but more on that later.
Lets start at the beginning
Valuation
– if you haven’t used the Your Profit Box free valuation tool then stop reading this page and read the information on the “how to value a business” page first. The valuation tool is a unique tool developed to provide you with a business value based on “an average” and asks for no specific financial information!
A report is created and emailed to you highlighting areas (like the house) that need repairing, re doing, fixing and what to do next.
Once you have your “average” valuation, you can carry on reading this page or start “doing your business up to attract only the finest of buyers and at a selling price to match!
Get your valuation below
Frequently Asked Questions…..
For each answer you are now going to provide, a score is applied, your end score will be added up and divided into the max score available which will help place you on the 3 to 7 scale.
Your valuation will only take around 10 to 12 minutes (usually) and never asks for any financial information as already discussed. It’s purely based on criteria that “would be” business buyers are looking for. Basically, the tell-tale signs that gets them reaching for the money!
Absolutely, there is no charge for this service. The whole purpose of the valuation tool is to show up where you are currently on the 3-7 scale, where you need to be and what (if any) areas you need to improve on. At Your Profit Box, thats where we step in to help (if you want help that is?)
Any information provided is completely private and is never shared or sold. One of the main reasons for providing a valuation tool that asks for NO independent financial information is so that your business is never comprimised.
Your business wont even be identified as the only info we do ask is for a first name and email address to send the report to – simples!
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