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When is the right time to sell?
Selling a business is a business decision surrounded by emotions. Many factors affect the timing of the decision. However, aside from the personal variables, from a business perspective it is better to market a company when sales are going up or have stabilized. Contrary to what many people think, you don't want to wait until the business is going down to sell. It will harder to find a buyer.
Why use a professional business intermediary?
Mainly for the same reason you use a professional CPA to do your accounting and taxing, or an attorney to help with your legal matters. Surely, with enough training, experience, and time you could do your own accounting and legal work. But, could your business afford not having you run it? Selling a business is a very demanding activity that must be conducted in the strictest confidentiality. An experienced professional intermediary brings to the table the right set of financial, marketing, operational, and, very important, people skills.
Do I need a business valuation?
Not necessarily. Depending on the type and size of your business, use of industry "rules of thumb" may suffice. However, it always helps to have an independent third party opinion of the value of your business before potential buyers are contacted. Not only does a professionally prepared valuation show a serious, committed seller, but it can also be a great sales tool that helps keep the asking price out of the negotiation.
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