Many people dream of owning their own company, because it allows them a lot of freedom they just would not get by working for someone else. Even though this may be your dream job scenario, at some point you may want to move on. Whether its retirement or just wanting something new, business brokers New Jersey brokers can help you sell.
Before you get in touch with a brokerage, make sure you are serious and will not have seller's remorse. If you are serious, you can sign with a broker and get the process of selling underway. This process has several steps.
You will need to make several disclosures to the brokers, with documentation to support it. You should have copies of the last several years of tax returns. You should also have copies of any outstanding bills or debt. If you own a retail location or a business that has product holdings, they may ask you to take and record an inventory of all items on hand.
If you started your company as a part of a larger franchise, any documents you have related to that will likely need to be disclosed as well. This is especially important to any future buyers, as they need to make sure the agreement is in order.
After this, they will ask what your bottom line is, that is, the absolute minimum you will take. Based on that and all the documentation, they can then come up with a buyer profile to find someone who fits the criteria.
Finally, the brokers will work to find a buyer who fits this newly created profile. They probably already have a few people in mind, and know where to look for other prospective buyers. This allows you to relax and reap the fruit of all their labor when they finally do complete the sale.
Before you get in touch with a brokerage, make sure you are serious and will not have seller's remorse. If you are serious, you can sign with a broker and get the process of selling underway. This process has several steps.
You will need to make several disclosures to the brokers, with documentation to support it. You should have copies of the last several years of tax returns. You should also have copies of any outstanding bills or debt. If you own a retail location or a business that has product holdings, they may ask you to take and record an inventory of all items on hand.
If you started your company as a part of a larger franchise, any documents you have related to that will likely need to be disclosed as well. This is especially important to any future buyers, as they need to make sure the agreement is in order.
After this, they will ask what your bottom line is, that is, the absolute minimum you will take. Based on that and all the documentation, they can then come up with a buyer profile to find someone who fits the criteria.
Finally, the brokers will work to find a buyer who fits this newly created profile. They probably already have a few people in mind, and know where to look for other prospective buyers. This allows you to relax and reap the fruit of all their labor when they finally do complete the sale.
About the Author:
Find an overview of the benefits you get when you consult business brokers New Jersey area and more info about an experienced broker at http://www.efcib.com today.
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