Preparing to Sell Your Business

Overview

Anna Demianenko. (n.d.) Retrieved from https://unsplash.imgix.net/photo-1427104227401-94b390b378b0?q=75&fm=jpg&w=1080&fit=max&s=36eaf8a793277f034613ae747649ed38. Creative Commons Zero

Anna Demianenko. (n.d.) Retrieved from https://unsplash.imgix.net/photo-1427104227401-94b390b378b0?q=75&fm=jpg&w=1080&fit=max&s=36eaf8a793277f034613ae747649ed38. Creative Commons Zero

Over the next ten years many owners will be retiring and making the effort to sell their business. These modules will help that owner collect the necessary documents to prepare for the eventual sale.

Selling your business is not a new idea. Over the years you may have thought about selling your business but realize there are issues to consider first. Preparing to Sell Your Business discusses several key issues that a knowledgeable seller will need to consider. It is prudent to do your homework and be organized in order to show your business in the best light. A used car salesman would have a difficult time selling dirty cars for example. Therefore, you will want to polish key aspects of your business to enhance the likelihood of a sale.

Learning Outcomes

By the end of Preparing to sell Your Business, you will be able to:

  1. Characterize and determine your company’s share of the relevant market.
  2. Practice and utilize Federal Government sources of data to compare with your business financial results reported on your annual tax return.
  3. Define the legal implications of becoming a new small business owner.
  4. Identify the impact of ownership transfer on existing contracts and fiscal responsibilities.
  5. Assess the value of the current employees working for the business.
  6. Define the Human Resource responsibilities of owning a small business.

All of these topics are of a mutual concern to both the buyer and the seller. Several of the topics covered in Preparing to Purchase a Business, in the Buyer section, are relevant to the seller.

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