For many small business owners in San Jose, CA, there comes a time to make the choice to sell their current business. This may be because of health issues, to have more free time or to spend more time doing what they really love.
However, before making the decision to sell your business, it is well worth the time to take a closer look at what you want in your future. Unfortunately, many business owners sell their business only to find themselves bored, full of regrets and wishing they had just found a different way to operate but keep their business.
Talk to the Family
Often small business owners spend a lot of time away from the family. This sometimes causes pressure to sell your business and find something less time-consuming.
However, there are also a lot of perks to owning a business. Perhaps a better option may be to find a top management professional or team to assume some of the duties you have been shouldering.
You may even decide to simply change businesses and buy into a new business that is more interesting to you and the family. If this is the case, you will want to have that information when you talk to your business broker.
Talking to a Broker
The next step if you are moving forward with the sale is to talk to a qualified, specialized and experienced business broker. Look for a company that focusses in on businesses in your revenue range to have the best match of services as well as potential buyers.
Take the time to research the company and the individual broker. Meet in person and see how comfortable you are with the individual. You should walk out of the meeting with a sense of confidence in his or her ability to sell your business. You should also have a rough understanding of how the business will be marketed and what protections will be put in place for confidentiality before and during the sale.
Finally, you should discuss any future goals you may have in moving into another type of business, or if you want to remain on in some type of a role during the transition between yourself and the new management or owner.
The more information you can provide the broker for your needs during the sale, the more comfortable you will feel in the process. Selling a business in San Jose, CA, is not a simple process, but with the right broker it will be positive and stress-free.
