The overall economy will affect the value of your business. The presidential election cycle may have an impact. The prime interest rate definitely will affect the price you can sell your business. All of these things are outside your business's control, yet they will have an impact. Just look at the stock market. The Dow Jones drops 3% and a lot of company stock value will go with it, regardless if anything changed at that company itself. You may want to consider this when timing the sale of your business. Again, we encourage you to schedule a consultation and we'll help you determine when the best time to market your business may be.
The first step to sell your business a phone consultation so we can learn a little about your business. We'll go through the process and tell you what we need to do the free business valuation
. We'll try to understand your business to determine the strategic value of the business, the location, the customer base, etc, in addition to evaluating your revenue and net owner income. It may be you are the sole provider of a service or product in the area or you have a patent on a product that no one else has. We need to know that. When we're done, we'll follow up with an email as well.
That next step is to decide what it is worth by doing the business valuation. You might find out that the business is worth less than you want, or need, to sell it and retire. Hopefully, it's worth more. Once we interview you and get your financial information, we'll schedule a free, no obligation, consultation.
After we have the consultation, answering your questions about about the process, learning even more about your company, and developing a marketing strategy, we'll execute the listing agreement and get started. We develop a factual, detailed confidential business information package. We've had many people tell us that our packages are very effective based on their content and presentation. We could add a lot of fluff on one extreme or lack detail on the other extreme. We try to answer all of the prospect's questions with our package. This helps to screen people and helps them make decisions.