The decision to sell a business is a hard one to come to. You have probably invested a lot of time and energy into your business to make it successful but now is the time to move on. Maybe you want to do something different, you are retiring or just see different market trends and now it is time to sell. Maybe you still wrestle with the decision to sell a business and maybe it has become an extension of yourself and your family. Everyone has been involved and the children have earned their first wages there. It truly is like an old friend.

Maybe you have worked so hard, but your business is only marginally successful and you just want to get out. Or you went into the business with a quick, short-term goal intending to sell your business at the first good offer. Whatever the reason you want to sell a business it is a big decision in your life. Once you sell a business, it is gone and no longer there. Once you sign those transfer of ownership papers there is no going back. Make sure you are making the right decision when you sell a business. Price your business at its market value.

Remember all the years of effort you have poured into it and when you sell a business it is the single opportunity you have to get the price right. You deserve the rewards for the years of hard work and sacrifice; and to move on into the future worry free.

Everything will be a lot easier if you hire a commercial broker to help you through what it takes to sell a business successfully. The following are some things you should research before you decide to sell a business:

- Where to start? When is the best time to sell your business? Is it seasonal and may attract more buyers during the busiest time? What do you need to know about the legalities and pitfalls of selling a business? How do you choose the professionals you need to advise and help you sell your business?
- How do you set a Price? How do you know what your business is worth in the marketplace? What can you do to maximize the value of the business before you sell? Is everything in order — the books, the property, future profit and loss projections? Seek professional advice before you sell a business.
- Where are the Buyers? What does a commercial broker do to help you sell a business? How do you want your business marketed? How do you create a memorandum of sale?
- How to Structure the Sale? What are your options? What are the tax implications of each one?
- Now it is Sold? What happens now you have accepted an offer? What are the steps? What is the process for a letter of offer, due diligence and handover?

Your decision is made to sell your business, your research is done, and now you need to find someone to guide you through the process. Do not make spur of the moment decisions. Be careful who you choose when you sell a business. You need confidence in the company or individual broker you choose to guide you through the sale.

By: Sam Montgomery