Whenever you take a decision of selling your business, the most crucial and typical part is to take out the real valuation of your business so that you can get the exact amount which you deserve for. Selling business is only beneficial when you get the right value after sale. This amount can be used in other investments and even in a new start-up in a new business.
A correct valuation of business is very important. If you get over valued business then chances are of not selling of business as no one want to pay more money. And if you undervalued your business then you will be in loss of money after selling.
There are some factors which should be considered for correct valuation of a business for sale:
The assets like furniture, machinery and stocks should be valued correctly. A professional value estimator can be hired. Also consider the automation of business that how business runs in case of your absence and how much man power is required to run it properly.
Also check for future growth of the business, the PR of your brand and customer database. These things if positive can alone give good value for business.
Make sure that the finance and liabilities are correctly maintained by an experience Accountant. Many times, buyers cross check ledgers to check past profit and losses too.
Giving a sale business for profit is a hard decision to take but if valued properly can land you in good amount of money which can help you great in near future.
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