How
To Sell My Business - 6 Simple Steps To Sell Any Business
Step
1 - Preparation Step
2 - Valuation Step
3 - Finding Buyers
Step 4 - Structure The Sale Step
5 - Due Diligence Step
6 - Closing
Step
6- Close The Sale Of Your Business
Ideally,
the closing should be anticlimactic - more ceremony than hard
nosed negotiating.
But
in reality - because of the large number of details to be coordinated
- the process is rarely perfect.
No
matter how much preparation you do there will always be items
that won't be handled until the closing. If you have agreed
to pay off certain debts out of the closing proceeds than that
check will need to be written at this point. Or if the sale
price is based on the value of the inventory as of the day of
the closing, you will have to take a physical inventory that
day of the night before.
Of
course, before you get to the actual closing, there are many
details within the sales contract that must be negotiated. This
is were having an experienced lawyer working for you really
pays off.
Because
each contract is so unique, we will not go into a lot of detail
about writing the contract - that's your lawyer's job. But we
can talk about some of the more common elements of the Sales
Contract and why
they are important.
Click
here for an overview of the Sales Contract
Finally,
we have two checklists to help your prepare for the closing:
Closing
Checklist For An Asset Sale
Closing
Checklist For An Entity Sale
Sell
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The
Six Steps To Selling Your Business
Step
1 - Preparation Step
2 - Valuation Step
3 - Finding Buyers
Step 4 - Structure The
Sale Step 5 - Due
Diligence Step 6 - Closing
