Sell a Business Tips
Selling a Sail Makers, Fabric, and Repairs Business
The decision to sell your sail makers, fabric, and repairs business isn't something that should be taken lightly, especially these days. If a business exit is on the horizon, you'll want to check out our suggestions for staying ahead of the market.
You won't find any magic formulas for selling a sail makers, fabric, and repairs business, especially while the market is struggling to overcome the perceptions created by a down economy.
A business sale is always a sophisticated transaction and if you aren't prepared for it, your sail makers, fabric, and repairs business sale could have an unexpected outcome. To stay on course, you'll need sound strategy and meticulous execution on your side.
Still looking for prospective buyers for your business? You probably already know several parties with an interest in acquiring your company. Although some sail makers, fabric, and repairs business sellers advertise their businesses in general classifieds, the most successful sales are those in which professional brokers seek out likely buyers. Competitors may seem like natural prospects and they are. The downside is that they won't pay top dollar and will probably absorb your company into their own.
Multiple valuation methods exist for a sail makers, fabric, and repairs business. While the income method uses anticipated revenues as a value basis, the asset method focuses on the company's capital, real estate and intellectual assets. In many sales, the most accurate valuation comes from the market method which determines value based on the recent sales of similar businesses. A good appraiser will often use multiple valuation methods to arrive at a reasonable estimate. Sellers should take note of the fact that all three valuation methods reward businesses that takes steps to increase assets and income.
Working with Accountants
Accountants lay the financial groundwork for a business sale. Before your sail makers, fabric, and repairs business goes on the market, you should sit down with your accountant to clarify your financial goals and the tax consequences of a sale. Brokers often advise their clients to have an accountant perform an audit of the business prior to sale. In certain instances, it may be appropriate to ask your accountant to vet the financials of prospective buyers, run credit checks or even structure the terms of a seller-financed deal.
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