Why would an owner actually get rid of a business that they have painstakingly built up and spent years trying to make flourish? There could be several reasons: they want more cash, what they are doing is no longer fulfilling, or they are tired of coming up with new ideas and innovations. Or it could simply be “material fatigue.”
What the sale brings in the first place
There is, of course, money, what you have invested, the work you have done, the time you have dedicated to the business, even from your own personal time, simply everything.
How to do it
If you\’ve made a firm decision, it\’s time to prepare. And never waste time. You need to be clear and detailed about what you are offering so that prospective customers don\’t feel like they are buying a rabbit in the bag. Also, make it clear what the sale itself brings to the table, besides money. If you have employees, give them more confidence and more challenging work. Such measures may not seem necessary, but they can increase the value of the company.
It\’s not bohemian unless everything is “going wrong”. The same goes for putting the company up for sale. Sooner or later, it will come to the attention of those who do not want to know about the sale. Of course, don\’t spread this information too widely and ask your employees to do the same.20]
How much
When a sale is made, the price is determined in several ways. Revenue and market establishment, customer goodwill, location of the business, employee loyalty and ideas, treadmill accounts, competitive deals, and personal relationships are all important. Simply, all the positive things that have made the company what it is and what it offers.
And of course, everything must be contractually handled to the mutual satisfaction of the seller and buyer. The terms should be clear to everyone, and there should be no ambiguity there. All this should be done under the tact of an erudite lawyer.