Considerations for selling your business
If you are thinking about selling your business in Florida, whether you are retiring, moving on to something different or to make a profit, there are a number of things to consider. While you want to get as much money as possible, you also want to price it correctly so you do not waste anyone’s time. If you have employees you also need to consider them and their needs.
According to Entrepreneur, the selling price is something worth taking the time to think about. Look not only at how much the business takes in but also what its operating expenses are. Experienced buyers ultimately want to see the profit the business makes so make sure this is clear. It is also important to price it based off its current profits as opposed to potential or past successes.
The Chron discusses you should think about any potential roles for you and/or your employees. If you want the business to continue similar to how you have run it, you may consider staying on as a consultant as the new owner transitions in. You may want to provide some type of job security for loyal employees, and trained and skilled workers may also be a selling point for potential buyers.
If you own the building the business works out of, or there are trademarks associated with the company, you may choose to keep ownership of them and lease or license them out. Because there are so many things to think about when it comes to selling a business, it is always a good idea to consult with an attorney to make sure you are getting the best deal possible.