Ready to search for a business to Buy? Ready to sell your Orlando Business?
FAQ'S on Selling your Business
We're in the business of assisting buyers and sellers of businesses.
If you have a business or a franchise that you want to sell, we'll connect you with potential buyers in your metro area and from around the World.
No business is an island – we know that better than anyone. We're always looking for complementary services to offer our clients.
We work with small-, medium-, and large-sized businesses to help them either get started or expand into new territories.
Why should I employ GOLDCREST COMMERCIAL? 407-869-6446
What we do for you – The Seller:
Goldcrest will thoroughly evaluate your business and give you a clear explanation of how we arrived at the right price and terms. Your company will be confidentially marketed domestically and internationally including being advertised on the internet and in multiple listing services of the BBF, which allows hundreds of Florida Business Brokers to help sell your company. We will keep you abreast of all activities relative to the sale of your business. Goldcrest Commercial will walk you through the entire sales process one-step-at-a-time; and that includes working with your professional advisors such as your CPA, attorney, etc. Our service will be complete when the right buyer purchases your business, the transaction closes, and you are completely satisfied.
Why is Seller Financing So Important?
In many cases, businesses listed for all cash simply do not sell. A seller demanding all cash can expect offers with discounts of 10 to 30%. With reasonable terms, the chances of a sale increase dramatically. Since very few lenders will finance the sale of a small company, seller financing may be the only way to sell your business. You will also receive interest from the note which can greatly increase the total amount received. Most of all, seller financing tells the buyer emphatically that the seller believes the company can make the payments.
What Happens When There is A Buyer For My Business?
First and foremost continue to run the business in an aggressive, growth-oriented way. Do not let up on business operations during the marketing period. You should make most decisions in the best interest of the long-term objectives of the company.
Maintain up to date financial information. Work with your accountant to provide monthly statements with year to date numbers. Real buyers want real data, usually no more that 60 days old.
Understand the tax implications before setting the selling price. This may very well require the assistance of a specialist in this field. Your company accountant is an expert at keeping the records of the company but may not be completely up to date on some of the latest structures that can be employed to reduce your total tax burden. An effective tax plan can allow you to price the business much more attractively without sacrificing your total return. This is a critical step in developing a win-win transaction.
If you are using an attorney, make sure they are familiar with the business closing procedure and documents in use in this area. Attorneys familiar with the procedures and documents in use by members of The Business Brokers Of Florida can quickly respond to your needs and answer your questions based on actual recent transactions. Attorneys familiar with the business closing process can sometimes save you thousands in legal fees. Make sure your attorney has time available to close quickly, usually within a few weeks.
You, too, should be prepared to close quickly. Once an agreement is reached between buyer and seller, buyers generally want to close as soon as possible. It is important to keep all matters pertaining to the sale confidential until the closing so that the business operations are not altered by employees, competitors or clients.
What Can I Do To Help Sell My Business?
We will assist in the preparation of an offer. Our Standard Asset Purchase Contract will spell out the buyer’s offer in detail. The offer may contain several contingencies and will specify due diligence the buyer will perform. You can expect to be asked for Tax Returns, Bank Statements, Sales Tax Reports and any other documents necessary to prove the financial performance of the business, usually for at least the past three years. Additionally, the buyer will want to review the lease, franchise agreement or other contracts that will effect the business after the sale.
All offers will be presented to you for your consideration. You always have the right to accept an offer, issue a counter proposal or reject the offer. It is important to know that if you don’t accept the offer, a buyer can withdraw at any time. Be prepared to do some work at this point in the process. People from all over the world are seeking business opportunities in our area. Different nationalities and cultures approach negotiations in far different ways. You should take the time to consider all offers carefully and seriously. There may be some definite positives in the offer and the negatives may be offset with careful negotiations. Often, the first buyer turns out to be the best.