Preparing to Sell a Business

Once you have made the decision to sell your business, you will work with your business broker, Brenda, to prepare your business for sale. Your business broker’s expertise will help you package and present your business professionally to drive qualified buyers and maximize the value of your business sale. Brenda understands what buyers are looking for in a business acquisition and can ensure that your business is positioned in the best light possible.

1. Build Confidence with Prospective Business Buyers

Your business broker will deliver prospective qualified business buyers and they will want to discuss all of the components of the business with you, the business owner. The business buyer has to be confident they will be able to buy the business, manage all of its moving parts, and produce a return on investment.

2.Implement Business Systems

Setting up systematic processes for managing your business tasks and functions with detailed documentation makes an ownership transition much smoother and makes your business more attractive to buyers. The new business owner needs to be able to see him or herself running the business and following the processes you created to continue to deliver consistent and measurable results. How to run your business should not be a mystery to the new owner. Good.

3. Document How Your Business Works

It is always helpful if your business operations are fully documented with everything from a business plan to all of your daily, monthly and annual procedures. The business plan must be designed to communicate where your business is going and how you are going to get there, along with what each of your team members are responsible for. It is equally important to also document how your business relationships work with customers, suppliers, employees, and everyone else you interact with. These system documentations can be powerful in sharing the potential of your business with an interested buyer and in making that buyer comfortable with the operation which will in-turn create the needed confidence for the person to move towards finalizing the purchase.

4. Document Your Profit and Financials

Obviously, all serious business buyers will want to analyze your business’ financial performance. You should be ready to present tax documents, financial reports, business investments, and similar documents. Many business buyers will also present your financial documents to an Accountant or CPA who will advise them on whether or not to purchase your business. The verifiable financials of the business will be a major driving force for how much the business will sell for and what the terms of the transaction are..

5. Do Housekeeping for Your Business

First impressions are powerful and it is important that your business and your property are ready to be presented attractively and professionally to ensure you make a strong first impression.

  • Real Estate Property – Imagine you are walking into your business location for the first time and make sure everything is in great condition before meeting with the potential buyer.
  • Business Equipment – Make sure you are running an efficient environment around you and be sure to test all of your business equipment for any potential concerns.
  • Staff Management – Be sure that your staff is dressed professionally and conducting themselves in a professional manner.
  • Financial Documents – Be sure that all financial documents reflect the latest information including any recent sales or transactions so you are presenting the best-conditioned business to the buyers.
  • Contact Brenda the Broker Today!

    Brenda Bernhard is a seasoned business broker professional who can help you with all of your business buying and business selling questions and engagement inquiries. Feel free to call Brenda directly at (818) 321-6456 or fill out the following email form and Brenda will personally contact you within 24 hours.

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About Brenda the Broker

Brenda Bernhard Los Angeles Business BrokerBrenda Bernhard, CBB, Brenda the Broker, is a Certified Los Angeles Business Broker with years of experience in business buying, business selling, and business consulting services. Brenda the Broker is based in Los Angeles and helps clients with businesses for sale locally, nationally, and globally. If you're looking to buy or sell a business, contact Brenda today!  |  Learn More

Contact Brenda the Broker

Contact the leading Certified Los Angeles business broker for the business selling and business buying services you need with the best consulting and advisement!

Confidentiality Guaranteed Confidentiality Guaranteed

Brenda Bernhard, CBB
Certified Los Angeles Business Broker
Strong Business Brokers
3500 West Olive Avenue, Suite 300
Burbank, CA 91505

Contact BrendaContact Brenda the Broker Today!
Call (818) 321-6456

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