or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.

If you want to sell because your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.

WHEN SHOULD YOU SELL?
The most common mistake made by sellers is to take the

Surprisingly enough, if your expectations are reasonable obtaining the amount of money you want for your business is probably the easiest part of a business transaction. It is the less obvious issues which most people fail to examine, and those seem to cause the most problems. Okay, so you know how much money you want, but have you considered issues such as:

• Will you be staying with the business for a time to help with the transition?
• Do you have plans to start another business which might compete with the business you are selling?
• How will the sale of your business impact your family, your employees, your personal finances?
• What will you do after the business is sold?
• After you have handed over the keys to the buyer, how will you feel?
• After the sale, if the buyer immediately runs your business into the ground how will you feel?
• Have your considered that a potential purchaser will want to see your financial records for the past few years. Are your books clean?
• Is your business attractive to a buyer?
• How will your taxes be affected by the sale of your business?

I pose these questions not to deter you, but to illustrate some of the considerations beyond the purchase price which you must consider if you are to have a successful sale.

WHY DO YOU WANT TO SELL?
Your business was probably built with your blood, sweat and tears. It took you years, perhaps a lifetime, or in the case of a family business, generations. Now you are ready to move on and leave your business. With so much time, money and energy invested, you hope that the fruits of your labor will be fairly returned to you. Look very closely at your reasons for selling, the most common of which are health, boredom, work load, business problems and money. If any of these reasons apply to you, perhaps you should consider alternatives such as franchising; developing a partnership; merging with a similar company; going public; and absentee ownership or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.

If you want to sell because your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.

WHEN SHOULD YOU SELL?
The most common mistake made by sellers is to take the

might compete with the business you are selling?

How will the sale of your business impact your family, your employees, your personal finances?

What will you do after the business is sold?

After you have handed over the keys to the buyer, how will you feel?

After the sale, if the buyer immediately runs your business into the ground how will you feel?

Have your considered that a potential purchaser will want to see your financial records for the past few years. Are your books clean?

Is your business attractive to a buyer?

How will your taxes be affected by the sale of your business?

I pose these questions not to deter you, but to illustrate some of the considerations beyond the purchase price which you must consider if you are to have a successful sale.

WHY DO YOU WANT TO SELL?
Your business was probably built with your blood, sweat and tears. It took you years, perhaps a lifetime, or in the case of a family business, generations. Now you are ready to move on and leave your business. With so much time, money and energy invested, you hope that the fruits of your labor will be fairly returned to you. Look very closely at your reasons for selling, the most common of which are health, boredom, work load, business problems and money. If any of these reasons apply to you, perhaps you should consider alternatives such as franchising; developing a partnership; merging with a similar company; going public; and absentee ownership or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.

If you want to sell because your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.

WHEN SHOULD YOU SELL?
The most common mistake made by sellers is to take the

Are your books clean?

Is your business attractive to a buyer?

How will your taxes be affected by the sale of your business?

I pose these questions not to deter you, but to illustrate some of the considerations beyond the purchase price which you must consider if you are to have a successful sale.

WHY DO YOU WANT TO SELL?
Your business was probably built with your blood, sweat and tears. It took you years, perhaps a lifetime, or in the case of a family business, generations. Now you are ready to move on and leave your business. With so much time, money and energy invested, you hope that the fruits of your labor will be fairly returned to you. Look very closely at your reasons for selling, the most common of which are health, boredom, work load, business problems and money. If any of these reasons apply to you, perhaps you should consider alternatives such as franchising; developing a partnership; merging with a similar company; going public; and absentee ownership or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.

If you want to sell because your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.

WHEN SHOULD YOU SELL?
The most common mistake made by sellers is to take the

generations. Now you are ready to move on and leave your business. With so much time, money and energy invested, you hope that the fruits of your labor will be fairly returned to you. Look very closely at your reasons for selling, the most common of which are health, boredom, work load, business problems and money. If any of these reasons apply to you, perhaps you should consider alternatives such as franchising; developing a partnership; merging with a similar company; going public; and absentee ownership or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.

If you want to sell because your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.

WHEN SHOULD YOU SELL?
The most common mistake made by sellers is to take the

or partial retirement. If your main motive in considering sale is a decline in the health of the business, you should probably be considering something other than a sale.

If you want to sell because your business because it is failing or just past its peak, you are in a poor bargaining position and will probably not receive your expected purchase price nor will you be in a position to negotiate other important terms.

WHEN SHOULD YOU SELL?
The most common mistake made by sellers is to take the plunge fueled by emotion. Emotion is unavoidable, after all your business may be like a child to you but you cannot let it control your actions. Building a successful business takes planning – so does a successful sale. Consider the following:

• Is your business at its peak, or is it on the downturn?
• What is the marketplace like?
• How many qualified buyers might there exist?
• How will the economy affect the ability of a buyer to obtain financing?

WHY LOOK BEYOND THE PURCHASE PRICE?
The sale of your business will probably affect your financial and personal situation, your employees, suppliers and family. The implications will be widespread and will most definitely take an emotional toll on you and key employees.

Talk to those people close to you about the potential sale. Ask for input from trusted sources such as your family, your accountant and financial advisor. When you have made a decision to move forward, find an experienced attorney or consultant who will work with you and your accountant to formulate a good strategy. Do not use a general practice attorney or business broker. Find a professional who has experience in buying and selling businesses. Ask to speak to former clients, see a transaction list or have a lengthy discussion with a potential attorney/consultant about his or her approach to selling your business. Of course, I wouldn't have written this article if I didn’t plug my services just a little. I am an experienced transaction attorney who takes a comprehensive approach to the sale of a business, therefore I stress formulating a good, solid strategy. Okay, the sale pitch is finished. If you want more information about our services feel free to browse our web site at www.StonebridgeStL.com

If after careful soul-searching and analysis if your motives for selling your company appear to be genuine, then carefully develop a comprehensive strategy. It should include the eva