Planning to sell your business but don’t know where to start? Check out the following tips from Stan Crow of S. Crow Collateral in Boise, Idaho, in an article for BusinessWeek:
- Get a formal business appraisal of your company.
- Structure the sale as an asset sale rather than as a sale of the business entity itself.
- Hire an experienced business broker.
- Ask prospective buyers to sign a confidentiality agreement before you provide them with any documents or information about your company.
- Once a buyer is interested, establish precise deadlines for when each step of the sale—through the closing date—will occur.
For more ideas, read the full article.
Source:
BusinessWeek:How To Sell Your Business
