Whether a business owner has the inclination to consider how to prepare or needs direction from experts, the preliminary questions to ask remain the same: How much of a runway do I still have? Am I ready for it? When is the best time to sell? How much will I get if I sell? How long will it take?
Unfortunately, clients often approach the professionals Business Brokers to sell their business when it is too late, when they are of retirement age or in poor health and nothing has been done to prepare. “Of course, rhey can still help, but there’s no getting around the fact that the lack of planning can be costly not only to owners but also their loved ones,”.
“It’s inevitable that all owners will eventually exit their business, and if the exit is planned, then they will have a certain degree of control. But unplanned exits due to health, death or other circumstances where they have no control are also a distinct possibility.”
Knowing where to start when deciding to sell one’s business requires asking self-directed questions — and ideally, asking those questions years before the intended sale is to take place.
There’s no getting around the fact that the lack of planning can be costly to a business owner. Consultation with a professional can streamline the process and create a clear path toward a successful sale
Read full article at Important Questions to Ask When You Want to Sell Your Business – BCBusiness