Selling your business is one of the biggest decisions you will make in your life and is often filled with a high level of emotions. Suncoast Business Consultants understands that this process involves many moving parts and can become overwhelming. Preparing your business for sale, marketing towards the right buyer, getting financials in order, continuing to run the business while it is for sale, keeping the sale confidential and understanding the tax consequences would be quite an undertaking for anyone. Furthermore, this is typically not a process you have gone through before or at least not on a regular basis.
This is why it is essential to contract the services of a business broker such as Suncoast Business Consultants who will guide you through this process. Our firm will meet with you to understand your needs and expectations. We will review your operations and go over your business financials, current lease or real estate, post sale desires and then what you can realistically expect based on market conditions.
The ultimate price you will realize from the sale of your business will most likely be a multiple based on your discretionary income (total owner benefit) and what other businesses in your industry typically realize upon sale.
The best way to determine the selling price of your business is by looking at 3 to 5 years of net income from your tax returns and then take other factors into consideration. However, we understand that this number does not always provide the most accurate information. Therefore, we will work with you to “recast” your Profit and loss (P&L/Income statement) and start to determine the true value of your business. As example, items such as one time expenses, owner’s salary, depreciation, amortization and non-essential operating expenses can be added back to accurately reflect the real income and expense of your business.
After we calculate this value we will then research through a variety of different resources what other businesses in your industry have recently realized when sold to new owners. We can then review this information along with other key indicators (such as unique aspects, proprietary concepts, location, length of time in business, secret sauces etc..) and determine the price at which your business will be listed.
Suncoast Business Consultants Will then discreetly market your business for sale through our buyer lists, MLS, Florida Business MLS, contacts that we have developed and several websites that list businesses for sale.
Today, most people will conduct internet searches. Listing your business online will provide the most exposure. Now, we know that even though you want to sell your business you most likely do not want your customers, employees and competitors to know what you are doing. All listings provide general information only. The listings do not reveal the name or exact location of the business unless you give specific instructions to do so. Although as the owner you will make the ultimate decisions we offer guidance along with risk vs. benefit advice on how to proceed with the sale.
As your listing agent we will ensure your privacy by having any interested prospects sign a non-circumvention, non disclosure and confidentiality agreement. We will also request proof of funds so that we can make sure the buyer is actually qualified (ready, willing and able) to purchase your business. We try to minimize the time spent dealing with the well known “tire kickers”.
We have owned and sold businesses as well and we know what an involved process it is to not only prepare your business for sale but then get a signed contract and then go through the due diligence period with a buyer. It is an emotionally draining process that you do not want to repeat multiple times, especially while continuing to run your business at an optimal level.
Suncoast Business Consultants encourages you to meet with us if you going to sell your business or just considering this as an option at this time. Even if you are not ready to sell now, please keep us in mind in the future. We can work with you to obtain the maximum amount of money possible with terms that are fair for both yourself and the buyer.
To start the process please fill out and either email, firstname.lastname@example.org or fax to us the Confidential seller information form on Seller Forms page. (Fax # 305-847-0395). All conversations are discreet and confidential. We respect your privacy!