If you are thinking of putting up your business for sale, you need to weigh your options carefully. Even if you have prepared an exit plan including a valuation, you need to look at how you plan to sell your Santa Clara County CA business in a fashion so that you and the business profit. This requires planning. You will need to look at all possible potential buyers for your business.
Checking Out the Options
The decision you make is an important one. No matter how small your business may be, selling it will have an effect on several people. It not only affects you and your family, it also has an impact on suppliers, employees and customers/clients. It can also have a consequence on the community in which it is located.
You do have several options from which to choose. They all have advantages and disadvantages.
* Competitors: Talk to the competition. One of them may be interested in purchasing your business.
* General Acquisition: Is this a possibility? Ask around. Contact business organizations and your lawyer.
* Consolidation: Is this possible? A consolidator may know.
* Management Buyout (MBO) or Leveraged Management Buyout (LMBO): If you are big enough, you may have a management team in place. They may want to purchase the business and operate it.
* Employee Share Ownership Plan (ESOP): Are your employees interested in owning and running the business?
* Business Broker: While the other options present possibilities, one of the more common routes it to list the business with a business broker.
These are your basic options. Each has potential for allowing you to gracefully exit your business. Some may prove to be more financially lucrative than others are. What method you choose will depend upon personal preference on how best to handle your business for sale.
Putting Up your Business For Sale
Selling your business in Santa Clara County CA has its risks. It also can offer you the chance to finally enjoy certain aspects of life you could not. It may simply be that you now need to retire and enjoy the next phase of life. Whatever your reasons, plan well in advance. Also, make sure your exit plan includes careful consideration of your selling options.
Look at the potential buyers of your business closely. Understand what each type of buyer offers and expects. Place this into the context of your business. Consider what impact it will have on all the people involved in your business – directly and indirectly. Only then, proceed with plans to put your business up for sale.
