What is my company worth?
Determining the value of your business is one of the first steps in selling your business. There are many factors to consider such as cash flow, asset values, financial history, condition of equipment, lease terms, competition, location, and the economy. We have access to comparable businesses that have recently sold, so we can value your business and establish an appropriate price.
How do I know when it’s the right time to sell my business?
Some of the reasons businesses are sold include: retirement/semi-retirement, health issues, burn-out, personal diversification, death, divorce/partner disputes, business growing too fast, second generation not up to the task, and loss of market share. The best time to sell your business is when the business is doing well. If you wait until the business is declining, or you have an urgent need to sell, the purchase price will suffer. It is important to remember that almost any business can be sold, even if it is not currently doing well, if the sale is handled by a professional intermediary and is priced accordingly.
How long will it take to sell my business?
rivately held businesses generally take 6 – 12 months with the average taking 9 months. Some business will take longer to sell, while others will sell in a shorter period. There are many variables that determine how quickly a business will sell. Contact us for a free consultation.
How do you maintain confidentiality?
The sale of an established business should be kept very confidential. If employees, customers, and/or vendors know that the business is for sale, it could hurt the business. Before potential buyers can see details about your business or have your business address, they must sign a confidentiality agreement and fill out a buyer profile sheet. A TruView Business advisor will interview the buyer to ensure they are a legitimate buyer candidate and not a competitor or nosy customer, employee, or neighbor. TruView Business Advisors coach the buyer and seller throughout the process to maintain confidentiality at all stages. This process helps ensure that the only people that will receive details about your business understand the importance of confidentiality, and are qualified to purchase your business.
How do you find buyers for my business?
We conduct buyer searches through discreet networking, referrals, target marketing,Internet, using our extensive database of buyer inquiries and advertising. We have access to millions of buyers through our advertising platforms and have a referral network of over 6,600 professionals to co-broker the listing. We receive an increasing number of buyer inquiries in the Houston, Texas area and nationwide each month.
Why can’t I sell my own business?
Most owners that try to sell their own business find that the time they waste following up on interested parties and qualifying potential buyers is not worth the money saved trying to sell their own business. It is nearly impossible to maintain confidentiality while selling your own business. To obtain maximum value for your company, you need to concentrate on running your business to keep it profitable. If you are spending too much time working with buyers, you will start neglecting your business; if profits decrease, so will your purchase price. You can’t focus on your business while: valuing your business, remaining objective, keeping it confidential, finding and vetting buyers, structuring the deal, arranging financing, preparing documents, negotiating terms, managing due diligence, and closing the deal. A TruView Business Advisor will assess your objective, create a business analysis and valuation package, develop customized marketing material, implement a marketing strategy, prequalify all buyers and coordinate closing.
Why do I need a business broker?
There are many complex issues that occur when selling a business. It is different than most business transactions. Some issues include confidentiality, employee issues, customer relation issues, supplier relation issues, the company must maintain a competitive position during the process, unique contract issues, and complex tax issues. A business broker can maximize the value of your company while minimizing your stress through skillful valuation, marketing and negotiation. We only bring you buyers that are qualified, willing, and able to purchase your business. You concentrate on running your business to maintain your competitive position while we focus on the sale of your business. Partnering with a TruView Business Advisor will result in an increased sales price, faster sale, and less stress.