If you are a small business owner, a time will come when you’ll find yourself ready to exit or sell your business. You’ve probably thought about the possibility in some capacity already. But there are a few questions you need to ask yourself before you start fielding offers from potential business buyers.
What kind of buyer do you seek? Are you aware of the three typical types of business buyers and which one may be more inclined to purchase your business? If you don’t have the answers to these questions, a discussion with a Vesta exit plan advisor will help you set up your business for a successful sale to the type of buyer who is most beneficial to you.
Small business owners usually delay planning for a sale or transfer of their business due to one strong emotion… fear. Fear of a lack of knowledge about the process, fear of who to trust for guidance, fear of underselling their business, and fear of not being able to sell are all burdening questions for business owners. However, it is important to not let those fears determine your future or prevent you from planning. Vesta’s advisors are familiar with the emotional weight of exit planning and will provide you with an objective perspective to help create the best plan to fit your goals and absolve your fears.
In addition to a traditional business valuation, there are several non-numerical factors that determine value, and that buyers are looking for. Analysis of these factors often point out critical areas to work on years ahead of attempting to sell your business. Our exit plan advisors can help you determine which factors are worth pursuing to maximize your business value.
Your experience has made you an expert in every aspect of your small business. However, selling your business is likely a completely new endeavor for you. Since you want to do it right the first time, it’s critical to engage with others who had the experience to help guide you through the process. At Vesta, we’ve assisted numerous clients through their unique processes. Not only do our advisors want you to be successful, but we also want your business to be successful under its new ownership.
Vesta’s exit planning advisors have not only helped owners who are selling their businesses, but they have also assisted buyers interested in purchasing businesses. From value confirmation to business planning and corporate structure, Vesta advisors have the experience required to help you plan to either invest or sell a small business and set up a foundation for future success.
