08 Jun Avoid This When Putting Your Business for Sale
When selling your business, you need to make sure everything works out perfectly in your favor. The last thing you need is for the sale to turn sour. Luckily, you have us on your side. At Quantum Business Brokers, our experts are here to inform you of common mistakes that are made when it comes to a business for sale. You can count on us for the best information when it comes to a business for sale South Florida owners!
Time To Get It Going!
Every day small business owners make drastic mistakes when selling their business and lose thousands of dollars in the process. All their hard work and long-term investment go down the drain. These mistakes are often easily avoidable. As entrepreneurs, they had once dreamed of owning their own business and building it to success, to reap the rewards in the form of a successful business sale. Sounds like a great plan! However, making the sale is not as easy as it may appear. Take a look at the common mistakes that are made.
Top Mistakes Made for Business For Sale
- Not Planning Ahead or Waiting Too Long to Sell
- Waiting too long, or not planning in advance, can cause many business owners to miss their window of opportunity. It takes an average of two to four years to sell a small business. Therefore, long-term planning is key to any successful business sale.
- Not Finding the Right Person to Represent Your Business
- Finding the right broker and/or consultant to help you sell your business is crucial to your success. Often business owners go with the first person they meet to list their business and get the process going. This can cost you time and money in the long run.
- Thinking You Don’t Have to Promote or Market Yourself
- Thinking a broker will do all the work in promoting your sale can be deadly. You are the best promoter for your business. Who knows your business better than you? No one is more motivated, passionate, and knowledgeable about your business than you. A broker may be getting you some activity, but it’s important that you continue to promote yourself as well.
- Asking Too Much or Too Little for the Business
- Setting a very high or unrealistic price tag on a business can lead to a dead-end street. Expecting to get top dollar for a business that generates little or no profit is simply using bad business sense. Consider your industry, similar businesses, the economy, and your marketplace when pricing your business to sell.
- Selling to the Wrong Person
- Taking the first offer may not be a wise choice. This may not necessarily be your BEST offer. Selling your business for top dollar with little or no money down along with an extended contract may lead you to lose it all.
Call Us Today When It Comes To Business for Sale South Florida
It is time for you to put your business for sale! Quantum has one sole function, and that is helping clients buy or sell their business. We serve business buyers and sellers in Miami-Dade, Broward, and Monroe Counties.
We have years of experience helping business owners to sell their business, plan their exit strategies, and grow their business by buying other companies. Exiting a business is a life-changing event, and we take care of all the process for you. Whether it is expanding your product line or your market reach, a business acquisition can achieve in the short term a substantial growth of your business. Call us today for more information. We know all the information when it comes to business for sale South Florida!