Read Millionaire Fastlane
- Oct 18, 2015
As someone who has sold a business I can tell you that if he cannot walk away and the business still run fine without him, he has NOTHING TO SELL except a customer list and the depreciated assets.I'm looking for some feedback/strategies/ideas for someone trying to go through the process of selling a local small business. My dad is trying to retire and I want to help him get the most that he can for his company that he grew and managed himself for the past 30 years.
Some of the obvious things that come to mind is prepping the last 5 years of book keeping, payroll, tax returns, gross/net income. Should there be any other obvious things that I should be helping him get ready?
Any recommendations on advertising the actual sale of his business other than listing on some of these business sale websites? As well as any tips for negotiating with potential buyers?
If it matters this is in the South Florida area.
Thanks in advance
If he has to be there for the place to operate then he just has a job, not a business.
The number one thing he need to do is work himself out of the day to day operations.
Also, he will need to show a track record of this system working with management for a while (like a couple years) before any potential buyer is going to consider this a business worth buying.