Many people dream of owning their own company, because it allows them a lot of freedom they just would not get by working for someone else. Even though this may be your dream job scenario, at some point you may want to move on. Whether its retirement or just wanting something new, business brokers New Jersey brokers can help you sell.
You can call for a consultation with a brokerage, and they will usually take a meeting to gauge your level of interest. If that level is high, you can sign on to work with them to sell, which is a process that takes an investment of time.
The brokers will generally ask for several documents and files from you so they can put a value on your company and get an idea of how much they can sell it for. These documents include, but are not limited to, tax forms for the last several years and contracts for any debts. If you have inventory, they may ask for counts because these count as holdings.
If your company is a franchise, you will need hand over those documents as well. This could have a huge impact on who is willing to buy your business from you. If you have partners, they will need to agree to the sale as well.
After this, they will ask what your bottom line is, that is, the absolute minimum you will take. Based on that and all the documentation, they can then come up with a buyer profile to find someone who fits the criteria.
Then it is all a matter of finding the buyer based on that profile. That is where brokers really excel. They know who is looking to buy and can find you that buyer quickly, and with little effort on your part. That way you get the sale faster and can get to your early retirement sooner.
You can call for a consultation with a brokerage, and they will usually take a meeting to gauge your level of interest. If that level is high, you can sign on to work with them to sell, which is a process that takes an investment of time.
The brokers will generally ask for several documents and files from you so they can put a value on your company and get an idea of how much they can sell it for. These documents include, but are not limited to, tax forms for the last several years and contracts for any debts. If you have inventory, they may ask for counts because these count as holdings.
If your company is a franchise, you will need hand over those documents as well. This could have a huge impact on who is willing to buy your business from you. If you have partners, they will need to agree to the sale as well.
After this, they will ask what your bottom line is, that is, the absolute minimum you will take. Based on that and all the documentation, they can then come up with a buyer profile to find someone who fits the criteria.
Then it is all a matter of finding the buyer based on that profile. That is where brokers really excel. They know who is looking to buy and can find you that buyer quickly, and with little effort on your part. That way you get the sale faster and can get to your early retirement sooner.
About the Author:
Find an overview of the benefits you get when you consult business brokers New Jersey area and more info about an experienced broker at http://www.efcib.com today.
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