Get the Highest Price for Your Business by Avoiding These Mistakes

When it comes time to step aside and sell your business, it can be hard to let go. You’ve spent blood, sweat, and tears building it up to what it is today, and you certainly don’t want to feel like you’re just giving all of that work and time away.

Luckily for you, there are several ways that you can avoid mistakes and maximize profits from your business sale:

  • Clean Up the Storefront

Just like when you’re selling a home, your business’s curb appeal is the first thing that potential buyers see. You want that image to be pristine and represent exactly who you are as a brand. If your storefront looks old and in disrepair, it gives potential buyers the idea that your business is also old and in disrepair. Add some charm to your business’ exterior with some fresh paint and landscaping, then head inside for a thorough deep clean.

  • Clean Up the Financials

If your financial reports are in a mess, it once again sends the message that your business itself is also a mess. Go through at least three years of financial statements and reports to ensure that everything is accounted for and in tip-top shape. If you tell a potential buyer that you brought in $500,000 in revenue last year, you need to be able to prove it. Misrepresenting your business’ financials can get you into hot water if the deal goes south due to those misrepresentations, so be extra diligent, gather all of the documents you need, and be more prepared than is necessary.

  • Find a Reputable Business Broker

Many business owners are so used to doing everything on their own that they feel like they must also prepare and sell their business on their own too. Not true! By using a reputable, local business broker to represent your needs as the business seller, you will free up your valuable time to focus on the previous two steps. If you are selling a business in Tampa Bay, there are no better business brokers to choose from than Tampa Business Broker Inc. We have the experience and knowledge to get your business sold for top dollar and the best terms. Call us at (813) 993-1671 or contact us online to get started selling your Tampa-area business today!

  • Don’t Accept the First Offer (Unless it’s the Right One)

Many anxious business owners trying to sell their businesses jump at the first offer that hits the table, but this is a big mistake. When selling a business, you’re not just signing over the deed and walking away forever; most business sales include compensation for the seller’s time helping out with things for the first few months so that the transition from owner to owner is smoother. So, sellers must consider all terms of a potential buyer’s offer when choosing which buyer to sell to. This is where having an experienced business broker becomes an advantage.

Sell Your Tampa Bay Business Today

If you need business seller representation in Tampa Bay, look no further than the business broker experts at Tampa Business Broker Inc. We’ve helped countless Tampa Bay business owners get the best price and terms for their businesses, and we can help you too. Call us at (813) 993-1671 to get started today!