Century 21 Select Real Estate, Inc. Commercial Division has found the right buyers for hundreds of businesses.  Based on our experience, there are some questions you should ask yourself before selling your business. 

- Do you really want to sell or are you just curious about the value of your business?  Some   business owners have not made the conscious decision to part with their business.  If you want to know the value of your business, consider purchasing a professional business valuation. 

- Why are you selling your business?  Do you need to sell for health reasons or other pressing circumstances, or do you have the time to wait to receive the maximum price?  The first question buyers ask is, "Why is the business being sold?" 

- Is your selling price realistic?  Are you offering the proper terms? Typically, buyers only make offers on businesses that are reasonably priced and do not engage in negotiations similar to those used in purchasing a home.  You should be aware that most businesses are sold with owner financing.  Usually the buyer makes a down payment of 25-30% of the total acquisition price and the seller finances the balance with interest.  A seller who insists on receiving all cash should expect to receive considerably less than the normal market value of the company. 

-  Are you going to market your business through an intermediary who has excellent local knowledge as well as a national network of affiliates.  In our mobile society, it is not unlikely that a buyer procures a business in a different locale from which he lives.  It is important to expose your business on a confidential basis to the maximum amount of qualified buyers. 

- Is the buyer financially able to make the acquisition and also provide operating capital for the business after the sale is completed?  If not, the buyer may be attempting to purchase a business larger than he can afford. 

- Have you accumulated all the necessary documentation the buyer is going to require to begin his due diligence?  If this information is not properly put together in a format that a buyer will quickly understand, then the buyer will loose interest and you will lose the sale.Such documents include financial statements, leases, equipment lists, copies of notes payable, operation manuals, insurance policies, accounts receivable, aging reports, employment contracts, and any other contracts or obligations which may be transferred with the business. 

- Do you wish to remain in a working capacity with the business? Often the buyer will feel more comfortable if you remain to insure the continuity of the business. 

- Do you have an ongoing business to sell?  Can the operation be transferred to a buyer or is the business completely a reflection of your knowledge and personality?  Our associates are happy to help you answer these and many other questions which occur in the process of selling your business.