Selling Your Business
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Transcript of Selling Your Business
Selling Your Business?Selling Your Business?
Norman PearceNorman Pearce
AgentAgent
BTI GroupBTI Group
Making New Plans?Making New Plans?
Dreaming of longer Dreaming of longer Vacations?Vacations?
Selling a BusinessSelling a Business
• ExpectationsExpectations– Reward for life’s workReward for life’s work– Better than closing downBetter than closing down– Time to move on to something elseTime to move on to something else
• RealityReality– The MarketThe Market
• ExamplesExamples• Retail, Manufacturing, ServiceRetail, Manufacturing, Service
Hardest TasksHardest Tasks
• Finding a buyerFinding a buyer– Annual cash needs…$150KAnnual cash needs…$150K– Debit serviceDebit service
• Qualified buyerQualified buyer– MotivationMotivation– FamilyFamily– Net worthNet worth
• Wasting timeWasting time
First Step? First Step? Get Your Stuff Together!Get Your Stuff Together!
• Increase your bottom lineIncrease your bottom line
• Y-T-D P&Ls and Balance SheetY-T-D P&Ls and Balance Sheet
• 3 years of tax returns – 3 years of tax returns – signedsigned
• 3 years of P&Ls3 years of P&Ls
• Brief business overviewBrief business overview• (Current and future goals)(Current and future goals)
3 years of P&Ls3 years of P&Ls
3 years of tax returns – 3 years of tax returns – signedsigned
Balance SheetBalance Sheet