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When you are ready to sell the business that you have put so much work into, you'll want to receive top dollar for your effort. There are some important things to keep in mind before you go searching for a commercial broker in St. Paul, though, including which assets you want to include in the business sale and how much your company is actually worth. List of Assets The first thing to consider when deciding the details of selling your business is what exactly you are selling. Every business has a certain number of assets. An asset is simply defined as anything of value to the company. This might include physical goods, technology, basic office equipment like desks, or perhaps even a client list. Trademarks, company shares, and any proprietary information are also typically included in the asset list of a business sale. What is Your Business Worth? The asset list will help you determine the worth of your business. The bottom line for the sale of anything is that it is only worth what the market will pay for it. In order to price your business appropriately, you should hire someone to do a professional valuation for you. This will give you a good starting point for listing and you should expect some negotiation from there. Keep Everything in Order Prepare for a careful scrutiny of the books. No matter how much you list your business for, every aspect of it will be looked over prior to the closing of the sale. Whatever your business deals in, it needs to be kept up to date, accurate and neatly organized. It will be sort of like keeping your home neat and clean if you were selling it. Potential buyers will be more interested in a well-cared for business, just as they would be more interested in a well-cared for home. Timing the Sale When choosing to sell your business, it is helpful to analyze the timing of the sale and put a positive spin on it. If you are ill and cannot continue to run the business or if you are in financial distress and need cash quickly, potential buyers may not be willing to offer as much because they will know you are desperate to sell. Instead, if you sell because you want to pursue other business ventures, and have the time and energy to invest in negotiations, you will likely end up with a better offer. Professionals to Help You Sell There are several professionals you can hire to help you sell your business. The first is someone who can provide a professional valuation of your business, as discussed above. The importance of this service cannot be stressed enough as a means of properly pricing your business listing. Secondly, you will want to hire a commercial broker, or real estate agent, to help you market the listing. This individual will know the ins and outs of selling a business and be able to provide invaluable resources and advice all along the way. Finally, you may want to hire a lawyer who can help you draw up or review the documents necessary to transfer ownership of the business. Selling your business can be a tumultuous time, regardless of your reasons for selling. In the end, you will want to ensure that you receive a fair price for the hard work you put into the business. You will also want to be sure that the deal goes smoothly. Early on in the process you should contact a commercial broker in St. Paul who can give you all the tips and additional information necessary to ensure a speedy and lucrative transaction.
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