Sell Your Business with Top-Rated Business Brokers in Las Vegas, NV

Published Aug 09, 22
6 min read

Maximizing the Value of Your Business Before Selling in Las Vegas, NV

is the co-founder of Allan Taylor & Co. You can connect with her on Twitter and .

Understand that it may take a year or two to get your business into shape to sell it at the best price. “If you want to sell your business and retire at age 65, don’t call us when you’re 65 — call when you’re 62,” said Sells. Some experts even recommend thinking about who you would sell your startup to before you launch it, tailoring your business idea with an exit in mind.

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That multiple will vary by business type and industry, noted Barlow. Many sellers have fantasies about how much their business could sell for, but don’t move forward without a real-world valuation estimate. Brokerage president Sells compared getting a business valuation to creating a road map for how to achieve the sale you want - Looking To Sell My Business.

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For example, “You may need to cut staff to show more profit,” noted Sells. While you’re working on optimizing profit to give your business the best possible valuation, you should also complete one other preparatory task. It’s time to document how your startup operates. Buyers will want to see hard evidence that your profits are real, so you’ll want to have your documentation ready to hand over to any interested parties before you start marketing the business.

: These buyers usually look for companies that complement other businesses they own, or underperforming companies they can add value to, repackage, and sell for a quick profit. Also known as financial buyers. : An existing investor in the business might acquire your remaining stake and become the full owner.

Some sellers even find success with a cold-pitch approach. The catch: This will take precious time away from operating the business. Many marketplaces such as now serve as intermediaries to connect sellers with potential buyers. They charge a fee, but can give you exposure to buyers you might never meet otherwise.

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It’s a very smart idea to get close to potential acquirers early on in your startup’s lifecycle.” Through building those relationships, Procopio was able to find his own buyer. He identified and then actively cultivated a relationship with the company that was his top pick to acquire his startup. Exit, Event sold to American Underground in 2014 for an undisclosed sum.

If you’re DIY-ing it, you’ll network like mad, either online or in person, to spread the word that your startup is for sale. With any luck, your marketing efforts will pay off with expressions of interest from possible buyers. Hopefully, you now have a sale offer or two to review from prospective buyers.

Shares can be part of any of the offers described above, too; it could be cash and stock, for instance. If you agree on a deal structure and sign the LOI, you’ll move on to the next phase of the sale process, whereby the buyer goes over all your financials with a fine-toothed comb.

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If the buyer walks away, they won’t be able to keep any of the info you shared in the data room. If due diligence goes well and your buyers want to move forward, you’ll negotiate an asset-purchase or sale agreement. You then enter a tricky period, noted Procopio. Can I Sell My House To My Business. You haven’t quite sold yet, but the buyer may want to see highly confidential info, such as lists of top customers or information about your intellectual property.

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It’s one area buyers scrutinize closely to make sure the seller truly owns the assets they claim and that’s spelled out with legal agreements. Assuming all goes well, you’ll conclude due diligence and sign your sale agreement. Congrats! You’ve sold your startup. You might think that’s the end of the sale process.

Usually, the sale document outlines some actions required of sellers after their sale closes — so be sure to carefully consider them before signing your deal. At the very least, owners are often required to spend a month or two assisting with the transition to new ownership. On the other end of the spectrum, your sale deal could require you to put in years of additional work.

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“You might get an offer that’s $100,000 less, but they only need six months of training, versus one that’s more money but they want you for three years,” said Sells. “If you’re 65, you have to ask yourself if that extra $100,000 is really worth it. Make sure it’s the right fit if they want you long-term, or wait for another offer.” As you can see, every startup sale has a distinct set of steps: preparation, marketing, reviewing and selecting an offer, closing, and post-sale responsibilities.

Sells recalled her very first brokering deal, which happened after a longtime client for her digital marketing agency told her he was closing his aging fitness gym to retire at age 70. Not wanting to lose a marketing account, Sells reached out and found a couple of young trainers looking to own a gym location where they could host clients.

According to M&A Source, 80 % of businesses on the market will never sell. This should be a huge wakeup call for all business owners, as this statistic means you have less than a 20% chance of success when you go to sell your company. One of the chief reasons businesses don't sell is that owners don't think about selling until a catastrophic event occurs.

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All the data was in his head when he died the business died. I felt terrible as I was not able to help her. This is why it's so imperative to build your business to sell. This is how you set your loved ones up for success. As Steven Covey states, "start with the end in mind!" All entrepreneurs should buy or start their business based upon the GPS Exit Model.