I know how hard it was when you first started your business and I know how much effort you put in to make it a success. Sadly, you can’t keep your business forever (my opinion) only if you’re planning not to sell it.

My dad is a business broker and as his first son (with deep experience in selling and buying houses), here are some tips that will help you in selling your small business.

Here are the tips you should consider when you want to sell your business.

Don’t just sell–know your reason for selling

When a prospective buyer shows interest in buying your business, one of the first questions he’ll ask is why you’re selling it. Your answer must be truthful and straight to the point. Don’t gamble (tell lies).

Just make them know your reason.

Hiding the truth will cause trouble for you if the buyer discovers the issues for themselves.

There’s always a best time to sell

Yes. You read that right. There’s always a best time to sell your business.

The best time to sell a business is when it is at its top PEAK of profits.

You cannot do it alone– get the help of a professional

Some of you may think ‘’do I really need to hire the service of a professional broker before I sell my business? I don’t want to have anything to do with them. I can do the selling on my own’’.

Ha! I feel sorry for you. I don’t care if you hire a solicitor or not– that is none of my concern. It’s just that I like you and I don’t want any financial calamity to befall you.

A buyer is likely to use an accountant or solicitor to help them buy a business and without the use of professionals, you may end up being on the wrong side of the deal. Never make the mistake of selling without getting the help of a professional.

Pro tip: Consider hiring an accountant, certified business broker or solicitor.

Get a business broker to determine the value of your business.

It’s important that you know the value of your business. It will make you know its worth and how to go about selling it.

Hint: Get an accountant or experienced broker to suggest your business value.

‘’Abradacabra’’ your business for sale

Oh! I l love this.

Just like when you’re trying to sell a car or home there are different things that you can do to make your business look eye-catching for sale.

Here are some legal requirements you need to take care of before you sell your home:

Financial documentation, account taxation, contracts and trading arrangements, assets insurance, health and safety issues, pensions documentation, intellectual property.. Et al.

Develop the skills of selling

It’s great to get prepare to sell but without getting someone to buy, it’s just a wasted effort.

Developing selling skills is one of the most important things you must learn to do as a business owner.

It will give you an edge.

There are great ways to find quality prospects and buyers; these include business brokers, magazines, advertisement in newspapers, and the internet.

Leverage the power of the internet

The internet is fast becoming the best way to buy and sell. In fact, according to a current report, most businesses sell their products or services through the internet. The internet is one of the best ways to sell your small business The advantage of using the internet to sell your business is that, your listing  can get accessed to people all over the world.

Register your business for sale.

You can register your business for sale on the following websites:

www.loot.com

www.biztrader.com/place-ad.html

www.forumcommercial.com

http://business-trader.com.au/

These websites are one of the best platforms to register your business for sale.

Don’t sell your business if you have some legal problems.

Don’t ever go about selling your business if you have legal issues. Don’t ever think of it.

Think: You should have tied up any legal issues before thinking of selling your business

Your turn to dazzle me!

Make use of these tips, use your available resources, use your brain and the right (prospective) buyer will come. Trust me.