When is the best time to sell my business?
The best time to sell a business or sell a franchise in PA is when that business is doing well. It is best not to wait until after a business has peaked; the selling price can suffer. However, almost any business can be sold, even if it is not doing well, if the sale is handled professionally and priced correctly.
I am planning to sell my business in the next two years. What steps should I be taking now to assure a smooth (and profitable) transition?
Those looking to buy a business in Pennsylvania and the rest of the country will always confirm the financial standing of that business during due diligence.
Financial statements and tax returns need to be up-to-date and accurate before a buyer asks to see them. A buyer is not insulting a seller when he asks you to prove your numbers. He is only being a prudent business person.
Without Exception, Appearances Matter.
Any prospective buyer considering your business for sale in Bucks County or surrounding areas, will evaluate every aspect of your business. Summed up another way, appearances count.
For example, don’t assume that the new owner will want to replace old equipment or give a much-needed face lift to your facilities. The time to replace old equipment and make facility repairs is before you get ready to sell. Everything from repairing or replacing old signage to adding a new coat of paint, all matter when it comes time to make a great impression.
Keep-in-mind that anything that increases sales also increases profits and the all-important cash flow!
Make it easy on the buyer to make a positive decision by making certain your business shows like a winner.