Make selling your small business easy with these seven steps.

1. Determine the value of your company.
2. Clean up your small business financials.
3. Prepare your exit strategy in advance.
4. Boost your sales.
5. Find a business broker.
6. Pre-qualify your buyers.
7. Get business contracts in order.

How do small businesses get buyers?

Head to local meet-ups or tradeshows where you can talk to brokers or potential buyers. You’ll likely still want your business sale information online somewhere that you can easily direct interested parties to. When making your decision consider both cost and timeline as well as how important they are to you.

How do I know what my business is worth?

There are a number of ways to determine the market value of your business.

1. Tally the value of assets. Add up the value of everything the business owns, including all equipment and inventory.
2. Base it on revenue.
3. Use earnings multiples.
4. Do a discounted cash-flow analysis.
5. Go beyond financial formulas.

Do you need an attorney to sell a small business?

Selling a small business is a complex venture that involves several considerations. It can require that you enlist a broker, accountant and/or an attorney as you proceed.

What’s the best way to sell a small business?

Selling a small business is a complex venture that involves several considerations. It can require that you enlist a broker, accountant and/or an attorney as you proceed. Whether you profit will depend on the reason for the sale, the timing of the sale, the strength of the business’s operation and its structure.

Why do I need to sublease my business to a buyer?

The reason a seller would want to sublease to their buyer in the first place is if they’re only selling a portion of the business or if they’re financing part of the total sale price for the buyer. In these circumstances, the seller would still have obligations toward the business so they would want to still be in control over the real estate.

How long does it take to sell a small business?

Finding a Buyer A business sale may take between six months and two years according to SCORE, a nonprofit association for entrepreneurs and partners of the U.S. Small Business Administration. Finding the right buyer can be a challenge. Try not to limit your advertising, and you’ll attract more potential buyers.