Matters in the Sales Process
Some things that need to be addressed when selling a business include the following:
- What are you selling?
Be clear on what you are selling. Are you selling the full business, including all the assets, as well as debts, or are you basically selling the assets of the business and taking over the liabilities yourself? Are you also selling the business structure such as the company under which your business is operating or simply selling the ongoing business, which will include the name, but not the legal structure.
- Price.
You will need to obtain a valuation for your business so you can ensure you will receive a fair price from the sale. It is fair to say that the valuation will only be a guide because the price and value of anything is dependent entirely on what an interested party is prepared to pay for it.
- Who will be your buyer?
You will probably need to have discussions with a specialist, such as a business broker, to act for you and arrange the finalisation of the sale. While many business ow...
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