Selling Your BusinessFebruary 26, 2015 – Articles New Jersey Business
Every business enterprise has a life cycle: formation, growth, sustainability and liquidity.
For a business owner contemplating a liquidity, or “exit” event, whether as a result of personal choice or an unsolicited offer to sell, there are multiple issues to be considered. First, is now the right time to exit, and if so, why? Have you grown and sustained the business at a level which you no longer have the energy or resources to maintain? Are there industry or market factors at play that make your business particularly attractive to a prospective buyer at this point in time? Second, how do you determine a defensible market value for your business? Has an appraisal ever been done? Are audited financial statements available? Third, how do you go about identifying an appropriate buyer? Business brokers? Investment bankers? Industry contacts? Word of mouth? Fourth, how do you manage the sale process while also managing your business? Do you have experienced financial and legal advisors to guide you through the process?
Click here to view the full text.