Selling Your Business
Its official: the oldest of America’s baby boom generation started turning 65 at a rate of 10,000 a day — a trend that will last for the next 18 years. Many of them like you, own a small business with the objective is to retire or pursue other business interests. For others, it is to satisfy that entrepreneurial urge or diversify existing business interests. Whether the business is being sold to realize a profit from years of hard work, changing family situations, or to let the owner focus on other opportunities, it is important that the business be professionally presented to potential buyers.
Even though making objective decisions on financial issues comes naturally to a business owner, the decision to sell a business is often difficult, complex, and emotionally charged. Once the decision to sell the business has been made, the seller wants to find a buyer who both appreciates the value of the business and will successfully continue the seller’s legacy.
An estimated 65% to 75% of small companies in the U.S. – some 10 million – will likely hang up a "business for sale" sign during the next 5-10 years, according to Inc. Magazine. Getting your business presented and marketed to targeted potential buyers is critical to success. That is why over the last 15 years more business sellers have selected us to represent them.
At Panama City Business Brokers, we also work diligently to help you avoid the biggest mistakes entrepreneurs make when selling their business. By not making these mistakes, you will save thousands of dollars in the process. Don’t let all your hard work and long term investment go down the drain. You deserve to reap the benefits and rewards by a successful sale but avoid this pitfall and making the sale requires a professional as it is not as easy as it may appear.
What to expect when selling your business:
- The selling process began by clearly identifying your specific goals for selling your business. We our team of experts will work with you to determine your goals and transition plan while offering guidance and advice to take the stress and emotion out of the equation to make an objective decision. If we jointly determine that you are not ready to sell or the business is not quite ready we are also able to provide consulting services that can help get your company to peak performance in preparation for sale or if you just want to take company profitability to the next level.
- Quite simply, buyers buy your business cash flow. We offer a no obligation free evaluation of your business at no cost to you. We gather some initial information and documentation to confirm your business profitability and cash flow, all done confidentially. Potential buyers will not fly half-way across the country until they have enough information about a business to make it worth their time and expense. We're also able to provide consulting services that can help get your company to peak performance in preparation for selling.
- Once we've confirmed that your business has the potential to be sold, we will need to determine the fair market value of the business. As the local leader in business brokerage over the last 20 years, we have extensive knowledge of typical price and terms which are the two most critical factors in the sale of a business. A successful seller is one who sells their business at a fair market value with terms that allow both the seller and buyer to win. Setting the fair market price is critical. The terms you set will determine how much down payment the buyer will make, the assets you will or will not sell as part of the company, and the transition and continuity of the business. Every sale is different, but must be structured such that it is a win for both the buyer and the seller. It is easy for you as the seller to specify terms that give you an advantage with little risk. Unfortunately, that typically makes the buyer position more difficult, with higher risk which may delay or decrease your chances of selling.
- We typically have buyers available for the right business at the right price. We prepare the Confidential Memorandum, marketing booklet, list your company on our websites, contact potential buyers from our confidential data base, and market your company to potential buyers. We do this because serious buyers are interested in talking only with serious sellers.
The factors that most significantly influence how well your business will sell began when we jointly determined price and terms. This marketing effort will leverage past buyers, buyers from our waiting list, and strategic national buyers. We find, qualify, market, and present to you only buyers that have adequate financial resources.
- Just as we would not present a buyer to you that does not meet the financial requirements to purchase your company, we do not present companies to buyers unless they meet the buyer's investment criteria. We prescreen potential buyers and gather information through meetings, questionnaires and interviews. We do not present unqualified buyers as we value our relationship and respect your time.
- Prior to negotiating the terms of the deal we work with you to prepare a due diligence package for the buyers. All buyers require information - some are sophisticated while some may be a novice. Through our experience, we can expedite the process by preparing a package of due diligence. We work with you and the buyer in structuring the terms to ensure that you both walk away with a "win."
- We work with our team of professionals in completing the transaction. From our proprietary check lists to communication and document management. We are there to help walk you through the process so you can stay focused on your business.
PANAMA CITY BUSINESS BROKERS CAN SELL YOUR BUSINESS.
As you turn the page of next chapter of your life journey! You deserve to reap the rewards that came from building and growing a successful company! If you have additional questions about selling your business or would like to further explore selling your business, contact us and we can discuss the options.
We have sold businesses in Miramar Beach, Sandestin, 30A, Santa Rosa Beach, Blue Mountain, Grayton Beach, Watercolor, WaterSound, Seaside, Seagrove, Alys Beach, Seacrest, Rosemary Beach, DeFuniak Springs, Freeport, Destin, Miramar Beach, Panama City, Panama City Beach, Pensacola, and Fort Walton Beach.