4 Simple Steps you can read to learn,
"How to Sell your Business in Tampa, Florida."
Do you have a business that someone would be interested in buying?
In today's world, people have many choices. These choices are typically unlimited in scope and range. Simply put - when you offer your business for sale, you are competing with a other like kind businesses which a buyer can choose from. What will make your business stand out? What makes your business better than other options out there? These are just some of the questions you need to ask yourself when you are thinking about selling your business in Tampa, Florida.
A very basic and easy to look at viewpoint is to simply ask yourself - "Would I buy this business?" If so, why, and if not, why not.
Knowing these general and basic factors can help position your business to be one of the businesses for sale in Tampa, Florida that a buyer actually wants to buy.
Some key questions to ask yourself when selling are:
Is the business making money? Seriously... is the business making enough money to live a comfortable life for the risk of buying a business versus just getting a regular job. Keep in mind that most people look to buy a business in Tampa, Florida to IMPROVE their current position - not take on more risk to potential earn less. To have this, a business needs to be making money that can support the anticipated owner salary, the estimated debt payments to purchase the business, and a return on the invested capital to purchase the business (aka, the down payment).
Are the business earnings trends going up or down? Although businesses will have earnings that vary depending on a host of factors like economy, demand for product / service, competing businesses, etc., most buyers will only look to purchase a business that has an earnings trend that is increasing. There are some occasions where an experienced buyer may entertain purchasing a business where the earnings are trending down, but this is rare.... very rare. Overall, a buyer in today's world is looking to buy a business that is good and improving, not one that has "potential" or "opportunity".
What does the business make in total owner benefit, not taxable income.
The very first question that almost every buyer will want to know when initially inquiring on your business for sale in Tampa, Florida is simply - "What does the Business Make?"
This is typcially reflected as the TOTAL OWNER BENEFIT of being the owner of the business, and not just the taxable income of the business.
These numbers can vary GREATLY!
To decifer what a business total owner benefit is, a common practice is to "recast" the earnings. This is a calculation which includes adjusting for any benefits that the business pays for, but is actually a "perk" to the business owner. In addtion, any one time costs, non-recurring items, and financing structures are also typically adjusted to formulate the owner benefit of the business.
When you are able to show and clearly prove the total owner benefit to a potential buyer of your business for sale in Tampa, Florida, you increase your odds of successfully selling your business.
What is the business worth?
Businesses values will vary depending on several factors. These include the point of view (example, seller versus buyer, banker, accountant, attorney, etc.), the market, and other past comparable sales.
One of the most commonly used approaches of value is a multiple of the discresionary earnings (as mentioned in step 2 above), and applying variable adjustments for factors outside of the earnings.
The multiple is typcially a blend of past comparable sales within the same or like kind business sector.
Although there are various ways to research past sales, one of the quickest and most effective is to have a business broker complete a broker price opinion for you.
This is Step 4.
List your business for sale with a business broker.
There are a host of benefits you can enjoy by listing your business with a business broker in Tampa, Florida which can typically offset the commission fee payed for the service.
Some of the benefits with listing your business for sale with a Tampa, Florida Business Broker are as follows:
Access to the Business Brokers of Florida MLS system. For those business brokers who are members, this is one of the most beneficial items you as a seller would want to have. Just like having a house on the MLS increases the likely successful sale of the house, so does a business on the MLS system. The main difference is you want your business offered on the BUSINESS MLS system, not a MLS for residential real estate. Big Difference!
Access to the International Business Brokers Assoication Network. The same premise as above. When selling your business in Tampa, Florida, look to hire a business broker who maintains an active membership with the International Business Brokers Association (aka, IBBA).
Access to most Business for Sale Websites.
Assist in recasting financials (step 2 above)
Assit in pricing the business (step 3 above)
Screening buyers who inquire about the business for sale in Tampa, Florida.
Having a guide who is "IN" the business of Selling Businesses in Tampa, Florida!
In summary, the best way to sell a business in Tampa, Florida is to hire a business broker!
What should you do now?
Book a FREE Call for an introductory consultation!
As every business sale is unique in nature, one of the best ways to learn more is to simply talk with a business broker.
You can book a FREE Call for an introductory consultion to talk about selling your business in Tampa, Florida.
Initial consultations are free, confidential, and normally last 15 to 20 minutes.
After your call, you can decide if selling your business now or if waiting till later is a better choice.
No pressure, no obligation, and you can book your call at your leisure.
So if you are thinking about selling your business in Tampa, Florida and want to speak with a business broker who has over 15 years experience selling businesses just like yours, use the "Book a Call" button below to schedule your FREE introductory consultation!