If there is one thing we’d tell every single very small business out there about selling their business, it would be this – start planning for your business sale now (even if you love your business and cannot imagine every selling it). The earlier in your business ownership that you consider plans for selling, the easier an eventual sale will be. Easy things you can do to prepare for a sale are: keeping tidy books, keeping detailed records of your workload/job as the owner, not mixing business and personal expenses. When you make important business decisions, think about how those decisions might look to a future potential buyer.
Planning for a future sale will also likely yield you more money when you do decide to sell your business. Simply stated, businesses that are set up to sell usually sell faster and for more money. Owners who run their business knowing they will pass it off to someone else some day tend to have cleaner operations which is appealing for buyers.
We encourage you to book a discovery call with us to talk about a potential future sale of your business. We can talk through some specific things for your business that will position you nicely for a future sale, because you never know what the future holds.
