Sell a Business

You are going to sell your business.

Are you ready to sell?  Find out here.

Ask us if your business is ready to sell.

Your best business value: Three of the top drivers for business value.

1)  You have a steady and growing revenue stream over three years or more.
2)  You have an increasing net to owner gain over three years or more.
3)  You can clearly demonstrate your performance through tax returns.

Contact us for your selling needs –

Or by email.

Your Expert Selling Tips

How to Maximize Your Profit when selling a business.

» Sell when you are up.

To maximize your profits when you have a business for sale in New Mexico, market when you are doing better than ever. While the business is on the market, work it harder than you ever have– reducing costs, increasing sales.

» Have talking points to share with the potential buyer.

Have a clear, honest explanation for why you are selling. Know what has transpired over the years and be able to go right to the source of information. Understand what next generations of the company might be.

» Have your books and systems in order.

Inconsistency in records, unknowns, messy records can turn a potential buyer off. If they have their wits about them, they will likely buy a business for sale in New Mexico with a clear picture from the seller–one that can demonstrate history and performance.

» Don’t do a deal without professionals around you.

Business brokers, attorneys, financial advisors all have a critical role in protecting you from a mistake. Expert valuation, legal documents, financial recommendations for the structure of the sale and general advice are all important to having a transaction that benefits you. To assume you know may cost you in a deal gone bad, limit your financial potential, land you in court. Professionals guide you in protecting your interest.

» When selling a business, do your due diligence before signing.

As critical as it is for a buyer to do their homework, so should you, the seller. You may want to have someone pre-qualified before they are given any specific information about the company–if you want confidentiality, the fewer people that know the better. Ensure they have the financial ability to buy the business and, particularly if you are going to help finance the business, ensure they have the expertise to successfully run the business.

» Consider carefully if you want anyone to know the business for sale in New Mexico is on the market.

Clients and employees can become very skittish if they think change is coming. Often, feeling at risk, they will begin to seek security through others that appear more stable. Ensure you have non-disclosures and do-no-harm declarations signed by any prospective buyer before they have any information.

» Until the deal is closed, the sale is not complete.

Even after you have a buy-sell agreement, the business is really not sold, it is a pending sale. Any thing can go wrong between the buy-sell agreement and the close of the sale, keep running the business in the best way you can and, if you have elected confidentiality, be very careful before you let the proverbial cat out of the bag.

Responsible Business Practice

» Defining your business purpose, mission

Know what you are. Are you the manufacturer of small statues or are you an expert bronze pourer? Is your market the city, the country the world? It makes a big difference in how you plan, stage your growth, develop your relationships, who you hire, etc. Don’t think about today, think about where you are going to be in, perhaps, ten years.

» Have a business plan–including

  • Marketing–how you let your market know what you do and how you do it
  • Finances–where you are going to find and spend resources
  • Staff–those who are going to do your business, as employees or contractors
  • Services/products–what you are doing
  • Service Area–where you are going to do it

Some have said that in today’s fast environment a two year plan is all you can responsibly do. But, whether you look out one year or fifty years, look both long and short. Looking forward is very important to drive you to meet obstacles and advantage opportunities. Adjust along the way.

» Industry Knowledge

Follow what others are doing in the industry and be willing to share what you know. This group think will help the industry and help you.

» Ethical

Ethical operations will gain you a positive reputation, one that will help you to ensure a solid place in the marketplace. Once someone is found to be unethical, it is hard to regain a positive position. There will always be folks questioning what you do. Plus working within the law means you will not be caught owing penalties, ones that might be levied on estimates they make rather than facts.

» Forecasting

Look ahead to where you want to be and how you are going to get there. This is both a financial and a product/service exercise. It will help you to be prepared, ensure there is enough cash for everything you need and help you be ready for market changes.

» Employees vs No Employees

Your financial position is better with independent contractors, not employees. Knowing the laws about employees and following them will keep you from large penalties and past due taxes.

» Best Selling

Promote your business for sale on its on its attributes, what sets you apart. Don’t put down the competitor as it reflects negatively on you, suggests you can’t find enough good about your product to sell it. Positive relationships sell. Developing positive relationships can take a long time–don’t stop developing them.

» Record keeping

Routinely keep tidy records. Reconstruction is difficult. Messy records make your various required tax filings and ultimate sale of the business very difficult. Knowing where you stand today helps you know where you are going tomorrow. Knowing where you have been helps you have a successful business for sale in the future.

» Quality

The best you can sell is great quality at the right price. Don’t short change your efforts to improve and never think you have the best it can be.

» Community Knowledge & Involvement

Be part of your community. Sure it is a nice thing to do but ultimately it is building your relationships that result in more and better business. First know what your community is–local, national, international.