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Decisions to make before selling a company

| Apr 17, 2019 | Buying Or Selling A Business |

Louisiana business owners will ideally figure out how to exit their companies when creating their initial business plans. Doing so may help them answer some of the key questions that they will face when it comes time to sell. For instance, it will be necessary to have the company appraised to determine how much it should be sold for. The appraisal will consider the value of the brand as well as the assets that the company has.

Finding the right buyer is another key step in the sale process. Business owners will need to consider who that person or entity is, and it may be necessary to consider whether that buyer will need seller financing to close the deal. A buyer will be interested in the overall health of both the company and the industry that it is in. If an industry is not expected to grow over the long term, the business may not grow in the long term either.

It is important to know how long the sale process will take to complete. Those who are in a hurry may need to accept an offer that is less than what the company is worth. In some cases, the current owner of a company will spend many months or years working with the former owner to make the transition a smooth one.

When selling a business, it is generally a good idea to be as organized as possible. The more information that a party has access to, the more likely it is that a favorable deal can be reached. An attorney may be able to help collect or organize data that will be needed to further the progress of the transaction.