Questions to Ask When Selling Your Business
WHY AM I SELLING?
Your industry may be consolidating. Or perhaps you want capital to grow. Maybe you'd like to pursue other interests or retire.
IS THIS THE TIME TO SELL?
Your company should be profitable, the economy strong.
WHAT TYPE OF ADVISER SHOULD I HIRE?
Depending on the size and nature of the business, consult investment bankers, business brokers, or accountants.
HOW DO I VALUE MY COMPANY?
Methodologies vary by industry. A valuation firm or adviser is best qualified to provide an estimate.
WHO'S THE BEST BUYER?
You can take the company public or sell it to another company, a group of investors, or inside management.
WHAT SHOULD THE SALE TERMS SPECIFY?
You can finance the buyer; take cash, stock, or both.
HOW DO I HANDLE THE SALE PROCEEDS?
Make tax- and estate-planning provisions in advance, so you and your heirs keep as much as possible.
HOW INVOLVED WILL I BE AFTER THE SALE?
You may want to remain a full-time manager, become a part-time consultant, or walk away completely.
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