If you’re considering selling your company, make one last investment before you place the company on the market. Take the time to prepare and groom the company for sale.
Common activities include organizing the facilities (inside and out), reducing customer concentration, securing key employees, write-off bad inventory/receivables, re-negotiating vendor contracts, secure solid facility lease and most importantly cleaning up the company’s Income Statement.
All of this may take anywhere from one to two years, but it’s worth it. A well-organized company and clean set of Tax Returns for several years showing strong profits will significantly improve the value of a company. Don’t let increased taxes be an excuse that stops you! The increase in business value resulting from your time and effort in preparing the company for sale will significantly outweigh any taxes you’ll pay.
If you are considering an exit plan for your company, consider hiring a Certified Business Intermediary like Edison Avenue to ensure you get the highest value for your company. There are also risks involved in any company sale, and one of the greatest is failing to plan a successful ownership transition. We are passionate about the need for you to have a bulletproof plan. We’ve seen too many business owners give away their fortunes with the mistaken belief of waiting another year or I’ll just do this myself mindset. Edison Avenue provides you with extensive and personalized advice based on your unique business and personal circumstances. We don’t sleep well at night if we don’t help you prepare for the future and execute your exit plan on your schedule.
Edward Valaitis Managing Director of Edison Avenue has earned his Certified Business Intermediary (CBI), Certified Merger & Acquisition Professional (CMAP), Certified Value Builder (CVB). He has more than 25 years of experience building, managing, and selling companies with expertise in business transactions, business valuations and growing businesses. Business Broker serving the United States based in Tampa and Destin, Florida.