{"id":3826,"date":"2018-12-06T09:34:51","date_gmt":"2018-12-06T14:34:51","guid":{"rendered":"https:\/\/allegrafranchise.com\/?p=3826"},"modified":"2018-12-06T09:34:51","modified_gmt":"2018-12-06T14:34:51","slug":"5-secrets-to-selling-your-business","status":"publish","type":"post","link":"https:\/\/www.allegramarketingprint.com\/franchise\/why-allegra\/industry-news\/5-secrets-to-selling-your-business\/","title":{"rendered":"5 Secrets to Selling Your Business*"},"content":{"rendered":"

*At the price you seek, and without a lengthy wait.<\/strong><\/p>\n

Almost anyone can sell a company if it\u2019s priced low enough or if you wait long enough. But few want to be in that position.<\/p>\n

Having thought long and hard to reach a decision to retire or otherwise move on, most business owners eagerly begin looking forward to taking that next step. They\u2019re anxious to sell at a price as high as possible and close the deal as soon as practicable.<\/p>\n

If not really \u201csecrets,\u201d here are five sometimes overlooked measures that can help ensure a successful transition:<\/p>\n

1. Be prepared<\/strong><\/p>\n

Your financial information will almost always be the first focus of any prospective purchaser. So, for your sale to go smoothly, you\u2019ll need to have all your financial information fully up to date and, equally important, available in a format where you can share it readily.<\/p>\n

Look for ways to stay current. For example, if you regularly close a month in 45 days, aim to do it in 30.
\nUpdate procedural guides, employee manuals, and other key documents, too.<\/p>\n

As for easily sharing documents with others, there’s really only one way to go: electronically. A “no-brainer” you think? You might be surprised at how many business owners still maintain critical documents in a paper format rather than a computer file.<\/p>\n

2. Be available<\/strong><\/p>\n

For a sale to proceed expeditiously, the seller must remain available. If you\u2019re the owner, you\u2019ll need to be on hand to not only run the business but also demonstrate its operation and answer any questions.<\/p>\n

Potential purchasers will likely want to \u201cpick your brain.\u201d So, even you have a long-awaited vacation scheduled, you may wish to postpone it. That golf course, ski slope or Caribbean cruise are sure to be there later on, but many a prospective buyer will have moved on to a different opportunity instead of waiting for your return.<\/p>\n

3. Be proactive<\/strong><\/p>\n

Take a good look around your location and fix any obvious items in need of repair. Perhaps it\u2019s a hastily patched broken window, a small roof leak or even burned-out lights on your storefront sign.<\/p>\n

Consider that a business that\u2019s in good condition is likely to gain a higher purchase price. Also, know that noticeable problems can plant seeds of doubt in a prospective purchaser\u2019s mind: \u201cIf that front sign needs maintenance, what else around here might be wrong that I can\u2019t see?\u201d<\/p>\n

4. Be flexible<\/strong><\/p>\n

While you may be focused on cashing out (literally) as soon as possible, there\u2019s are advantages to owner financing if you\u2019re able to do so.<\/p>\n

Exiting owners who are willing to finance a portion of their business can often sell at a higher price than those who will not. You\u2019ll also benefit from the interest income on the loan. What\u2019s more, owner financing may just be the determining factor that tips the scale from \u201cno-sale\u201d to \u201csale.\u201d<\/p>\n

5. Be calm<\/strong><\/p>\n

If there\u2019s a downside to selling your business, it might the criticism or disparaging remarks you\u2019re likely to hear during due diligence. Potential buyers will be focused on anything that\u2019s wrong or something they might do differently once in charge.<\/p>\n

Don’t take negative comments personally. Offer to repair without fuss anything that’s incorrect and patiently explain your reasoning for something that may be called into question. Calmly accept the fact that things will likely change once you walk out the door.<\/p>\n

Bottom line? Address the big issues and don\u2019t sweat the small stuff. If you\u2019ve put off retirement or some other new next step, the opportunity is close at hand.<\/p>\n

Independent printers: Consider selling through an industry leader<\/p>\n

Allegra helps printers sell \u2014 and entrepreneurs buy \u2014 through our MatchMaker\u00ae Program<\/a>. It\u2019s a win-win proposition.<\/p>\n

We bring qualified prospects to owners who are ready to exit. On the other hand, purchasers \u201chit the ground running\u201d by acquiring an established printing business and converting it to an Allegra Center.<\/p>\n

Like to learn about the advantages of franchising with Allegra? Complete the form on this page and we will contact you.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

*At the price you seek, and without a lengthy wait. Almost anyone can sell a company if it\u2019s priced low enough or if you wait long enough. But few want to be in that position. Having thought long and hard to reach a decision to retire or otherwise move on, most business owners eagerly begin…<\/p>\n","protected":false},"author":2,"featured_media":3828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[],"class_list":["post-3826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-selling-your-business"],"_links":{"self":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/posts\/3826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/comments?post=3826"}],"version-history":[{"count":0,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/posts\/3826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/media\/3828"}],"wp:attachment":[{"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/media?parent=3826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/categories?post=3826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.allegramarketingprint.com\/franchise\/wp-json\/wp\/v2\/tags?post=3826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}