Planning to Sell Your Business

Planning to Sell Your Business

By Scott Messinger

Planning to sell your business may be the most important component when selling your business. When selling your Greenville SC business or Florida Business many aspects are important- Price, transition, taxes, contracts, financing, employees. But Planning to sell your business should be at near the top of the list. Too often small business owners run and grow their business for 20, 30 plus years yet fail to properly plan to sell their potentially significant asset. As a professional business broker helping business sellers in Greenville SC, Anderson, Upstate and most of South Carolina and Florida I work with businesses of varying sizes. While I work with many business with values of $1M +, many of the businesses I work with are considered Main Street businesses. (those with values under $500k. As a professional business broker I participate in quarterly surveys among 300+ Merger/Business Sale Professionals. A most recent survey shows that business owners are not planning/preparing as much as they should. (See below graphic).

As you can see above- maybe the 1st step in selling your business should be in developing a plan…. to plan. How does a Greenville small business owner selling their business , South Carolina Business Owner or Florida Business Owner begin to selling their business?

  1. Seek the advise of trusted professional that know the actual current market. This discussion/process would focus on steps or measures you may want to take with your business. Measures to prepare your business includes steps related to your systems, cleaning up any financial issues, and consideration of any potential transition issues. You need to understand the timeframe involved with selling your business. You need to understand potential value of your business. If you want to sell your business for $1M and its only worth only $500k you need to either change your business or change your expectations.
  2. Act on the advise and suggestions that you receive.

Scott Messinger is a Professional business broker working with business owners and business buyers in Greenville, Anderson, Spartanburg, Easley, Greer, Upstate South Carolina and Florida.Former/current business owner that has Personally bought 9 businesses. For more information or Confidential discussion contact me at Scott@GatewayBusinessAdvisors.com

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About Scott

Scott M. Messinger is a former and current business owner that has personally purchased 8 + businesses. Former owner of successful production/manufacturing/distribution business of 20 years that was successfully sold and transitioned. Member of Gateway Business Advisors serving South Carolina Florida and Southeast USA. Member of the Business Broker of Florida Assn. For a FREE current listing of Businesses FOR sale see: www.SellaBusinessAdvisors.com call South Carolina (864) 210-8226 Florida (239) 770-2421

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