How much can I sell my business for? A question asked very soon after you have decided to make changes in your life and sell your business. Now now you need to know how to value your business.
There are many factors to take in when making this important decision.
Stockport based Sovereign Business Transfer are experts in guiding businesses through the steps required to establish how to value your business.
The first step to get your housekeeping in order because any serious prospective buyer will want to see the accounts to find out how much you are turning over, and what gross profit you are producing per annum.
The second is to do a realistic assessment of your business. By this we mean putting together all the things that make your business an asset. For example this might be customer parking, affluent location, high footfall, expensive equipment that enables your business to run. All of these things will help give you an idea of the price you can expect to achieve for your business.
It is also a good idea to do some research to see how much similar businesses are being listed for sale online. After you have done this you can then take the important step to seek expert advice in the form of a Business Transfer Agency. Most of these agencies will offer you a no obligation appraisal where they will visit your business and give you their opinion on how much it would sell for in the current market.
Finally, once you have chosen a Business Transfer Agency to sell your business make sure you make clear to them the minimum sale price you want to achieve and it is also a good idea to ask them to keep you update on their marketing strategy and any changes in the market which might affect the sale price. Any reputable agency will be more than happy to provide this service for their client.
Now you are ready to sell your business for its maximum value and get on with the all important next stage of your life, be that retirement or a new challenge or simply taking stock before you make your next move.
Expert Opinion supplied by Sovereign Business Transfer