3 Ways to Facilitate a Successful Sale

If you’ve been thinking about selling your business lately, there is no better time than now to start preparing for the sale. Planning meticulously, observing marketing conditions, and preparing your business are all things that will increase your selling price. Strategically positioning yourself and your business to be viable for prospective buyers will play an integral role when you decide to sell. Here are 3 successful sales strategies to keep in mind as you begin to take the first steps towards selling your business:


Prepare in Advance

It pays to prepare your business for sale well in advance of placing it on the market. Plan to allow at least six months to a year to prepare your business for sale. Diligent preparation will help you show your business in the best light. You will want time to gather all the necessary documentation that potential buyers will expect to see. Also, keep in mind the time frame it takes to complete a business sale. Most sales take 6-12 months from the time the business placed on the market to closing the transaction. Careful preparation will give you more flexibility to align your sales timing with a favorable market and could help you avoid the pitfall of having to sell quickly at a less-than-ideal price.


Research the Market

In order to establish a fair asking price, you’ll need to do some research to objectively determine where your business fits into the market. While you certainly don’t want to underprice your business, pricing your business too high may drag out the sales process or even prevent your business from selling at all. Fluctuations in the market, and more specifically within your particular industry, will help you determine the best time to put your business on the market. Look for similar businesses for sale to get a feel for the current market and then seek the help of a professional by calling Gateway Mergers and Acquisitions.


Look at Your Business Through a Different Lens

successful sales strategies, cityscape behind glasses lens

It is important to look at your business through potential buyer’s eyes in order to determine your business’s strengths and weaknesses. Take the time to promote your business’s high points and work on its low points with an eye towards improving your selling price. Remember that buyers would ideally like to purchase a business when it’s doing well and showing steady growth. If records show your sales in decline, then it may not be the best time to sell, since this will negatively impact your selling price. You want your business to stand out in a competitive market as the best investment in its field. Your documentation should include past results and current placement in the market, as well as the potential for future growth. This is where the guidance that Gateway will provide will prove invaluable.


Call us now for a free, no-obligation pricing analysis at (972) 219-6961, or contact us to start the process.