There are so many different things you need to consider when thinking how to sell my business. Most of the stuff you are going to need is documentation. A broker will be able to make sure you have all the information in order and also be able to handle it and make sure everything is correct. They can also assist you with obtaining most of the information. There are 3 different sections of information you should have ready, the general information, legal documentation, as well as the marketing information.
General information consists of the regular information and is usually the first thing potential buyers will be looking at if they are interested in your business Here is a short list of some of the things you will be expected to have ready:
- Fact summary sheet, gives the most important information about the site all on one page
- Programs that the site uses and how to work those specific programs
- Security reports
- Index of every single page
- Media mentions, such as awards or publicity
- List of employees
Marketing information is going to be a big part of the buyer’s decision.
– Overall marketing strategies used
– Statistics within search engine rankings
– Keyword research completed and keywords that have already been targeted
– Visitor statistics, that includes their demographic information
– Competitor information and research
– Sales history and information regarding your conversion rates
The last section of information on how to sell my business you’re going to need is going to be legal documentation. They will be able to provide proof of ownership, transfers, history, and all other legal information your buyer might be interested in. Some of those documents are:
– Revenue documentation
– Expense reports
– profit reports
– ROI analysis
– Any appraisals
– Any contact regarding the sale
What a Business Broker Actually Does When Selling Your Business
The first thing you have to understand is what a business broker really does, and the answer isn’t short. They provide multiple different services that cover all aspects on how to sell my business. From the beginning preparation stages to the finalization of the sale, you will always have your broker working for you. The main goal of a broker is to connect a buyer and seller together, then make sure the deal goes as smoothly as possible. They will be able to place your business on the market and attract buyers, as well as make sure to sell it for as much money as possible. While this whole process might sound simple, let’s take a quick look at exactly what they could end up doing:
– Makes sure that the business is correctly priced.
– Conducts multiple types of evaluations.
– Archives any communication between both the buyer and the seller throughout the entire process.
– Does comprehensive market research of similar businesses to ensure your asking price is correct and to understand the market.
– Produces a marketing strategy based on all of their research to help sell the business.
– Find Potential Buyers.
– Educate the buyers about the site and show them all aspects of it.
– Will assist in the price negotiations.
– Assists with completing all of the due diligence involved with the sale.
– Comes up with offer presentations and presents them to potential buyers.
– Ensures that all parties involved with the deal are fully aware of all the information as soon as possible.
– Protects the identity of the seller if they don’t want to be revealed.
– Will ensure that all paperwork is readily available and is kept safe at all times.
– Assists with the financial aspect of the process, such as transfers and contracts.
– Provides post-sale assistance if it is needed.