As a business owner, it is always important for you to be thinking about your business’s future. But this includes more than just thinking about new products, ways to gain market share and how to become more profitable. Planning for your business’s future also includes planning for your eventual departure from the company. One of the most common ways that business owners depart from their company is through selling their business.
A business sale is a long and complex process. The more you have planned for your sale, the easier the sales process will be, and the more quickly your business will be sold. The advantages to planning your business’s sale ahead of time include:
- You can make sure that your business is sold at a time when it is most profitable, maximizing the price that your business can command in the market.
- If you know that you will be selling your business, you can begin delegating many of your responsibilities to your employees before the sales process begins. By slowly disengaging yourself from your business’s daily operations in this way, you make yourself more easily replaced. This increases your business’s value to buyers because it makes it easier for them to assume your role without affecting the business’s productivity.
- You can have all of your business’s financial information professionally prepared before the sales process begins, giving buyers the impression that you are taking the sales process seriously.
- You can make sure that your leases and rental agreements are structured in a way that will allow you to more easily transfer them to your buyer, increasing your business’s value.
- You will have the opportunity to learn more about your business’s value and how similar businesses are selling in your market, helping you to establish realistic expectations for your sale.
- Financing considerations can be planned for so that you can be prepared to finance your own sale (which makes your business more desirable to buyers).
- Knowing that your business will soon be sold, you can address any maintenance concerns before the sales process begins so that buyers will see your business in the best possible condition.
Each of these items represents a major advantage of planning for your business’s sale ahead of time. At the Augusta, Georgia, office of Morgan & Westfield, our business brokers provide exit planning services that are designed to help you through this process. We explain your options to you and help you create an exit plan that fits your unique situation. Our business brokers will also help you determine what you need to do in preparation for your sale and help you accomplish each of these tasks. We will even use this pre-sale period to answer your questions about the sales process and help you to enter this process with as much information as possible.
A quality plan for your business’s sale can have a significant impact on your ability to successfully sell the business. To learn more about how our business brokers can help you plan for and ultimately sell your business, contact the Augusta, Georgia, office of Morgan & Westfield today.
Preparing Sellers for the Sales Process
One of the biggest advantages of planning your business’s sale is that it gives you more of an opportunity to prepare for and learn about the sales process. Most business owners have never been through the process of selling a business before. This lack of experience often leads to feelings of uncertainty and can make this already complex process feel overwhelming.
One of the key reasons why our business brokers provide exit planning services to our clients is to reduce this stress. Our business brokers use the exit planning process as more than just a time to prepare your business for sale, it is also a time to prepare you for the sale.
At the Augusta, Georgia, office of Morgan & Westfield, this means teaching you about the sales process. Understanding what is happening, what you can expect to happen next and how you are progressing through the sales process removes the uncertainty that is created by this unfamiliar process.
Our business brokers further prepare sellers for the sales process by taking the time to answer your questions. You might be wondering:
- How will my business be valued?
- How long will the sales process take?
- How will my sale be advertised?
- Should I be worried about my confidentiality?
- What are my obligations as a seller?
These questions all can be answered before the sales process even begins, relieving some of the stress created by this often taxing time. Making the process of selling your business easier for you is just one more way that our business brokers at the Augusta, Georgia, office of Morgan & Westfield help you to sell your business.
Business Brokers of Augusta, Georgia, Morgan & Westfield
At the Augusta, Georgia, office of Morgan & Westfield, our business brokers provide a variety of services to facilitate your business’s sale. In addition to our exit planning services, we also provide:
- Business Valuations
- Confidential Marketing
- Buyer Screening
- Negotiation Facilitation
- Deal Structuring Services
- Financing Assistance
- Closing Services
These services, along with our exit planning services, are designed to facilitate the completion of each step in the sales process, ensuring a successful sale. Our business brokers provide these services exclusively to the business owners of our local communities. This includes communities in both Georgia and South Carolina. Specific communities that we serve include:
- Georgia: Augusta, Martinez, Appling, Winfield, Wrightsboro, Grovetown, Harlem, Harlem, Adamsville, Autney, Thompson, Mesena, Camak, Norwood, Warrenton, Gibson, Avera, Stapleton, Wrens, Louisville, Vidette, Gough, Keysville, Blythe, Hephzibah, Waynesboro, Wilsons Store, Sardis, Girard, Shell Bluff and Evans.
- South Carolina: North Augusta, Belvedere, Clarks Hill, Modoc, Colliers, Trenton, Murphy Village, Laurel Lakes, Vaucluse, Graniteville, Warrenville, Aiken, Burnettown, Clearwater, Windsor, New Ellenton, Beech Island, Spiderweb, and Jackson.
By exclusively serving the business owners of these communities, our business brokers are able to play a vital role in the economy of this region, facilitating hundreds of sales each year. Playing this role in our local economy is something that we are very proud of and are dedicated to continuing. To learn more about how our business brokers can help you sell your business, contact the Augusta, Georgia, office of Morgan & Westfield today.