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Professional Business Valuation and Selling Your Business

Last week, there was an interesting article, “How to Sell Your Business,” in The New York Times. As the title suggests, the article covers the numerous things a business owner needs to think about when considering selling his or her business. We will focus on one of the author’s tips, which we have discussed in previous blog posts (you can read them here): make sure you know what your business is worth.

The article highlights the fact that most business owners have no idea how much their businesses are worth. The writer points out that it is necessary for a business owner to know the value of his or her business in order to set realistic expectations for both the seller and potential buyers. Many sellers may be setting themselves up for disappointment if they don’t understand the potential market price of their business. And if an asking price is too high, it could jeopardize the attractiveness of a business to potential buyers.

Here are all the quick tips from the article for anyone who may be thinking about selling a business:

• Put yourself in the buyer’s shoes.
• Don’t go it alone. Assemble a team of professionals, most importantly an attorney and an accountant that you trust.
• Get a professional valuation of your business.
• Make sure your financial house is in order prior to sale.
• Familiarize yourself with the entire selling process, from start to finish.

If you are thinking about selling a business in the near future, contact Present Value LLC for all your appraisal and business valuation needs.

By: Present Value

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