Where to sell a business

Where to open a business - It is not necessary to hire a business broker, who may charge as much as a 15 percent commission on the sale price of the company, a broker will spend the time vetting buyers, ensuring confidentiality of the process and answering questions so you can focus on making money, house said. Diligent buyer is going to want up to five years' worth of profit and loss statements, bank statements, tax returns, leases, supplier and vendor contracts, and customer data, said barbara findlay schenck, a business strategist and author of "selling your business for dummies. You know you're going to sell, begin transferring assets into your personal name if they will not be sold with the business, such as cars, intellectual property and real estate, so they're off the expense column of the balance sheet, schenck said. , owners should begin getting their businesses ready to sell at least a couple of years before they hope to close a deal, house said, to slowly wean themselves from the day-to-day responsibilities and getting it in tip-top financial shape.

How to sell your small business

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