Selling a business can be a challenging endeavor even under the best of circumstances. That’s why having the right information is so crucial. There’s a lot that can go wrong with a potential sale, whether it’s a lack of appropriate marketing or undervaluing a business. The business planning gurus at Zoellner Garten & Company know what is at stake when you’re attempting to make a sale. That’s why they offer the following advice to entrepreneurs in Cincinnati, Northern Kentucky, and Dayton to help them strive for the best results possible.

Take These 3 Steps If You’re Selling a Business

1. Clean up Your Finances

Financial loose ends like outstanding debt can look bad when it comes to businesses for sale. Accordingly, you should make sure these issues are rectified before beginning the selling process. Many buyers will be reluctant to commit when there is a great amount of debt involved, and even if they are willing to take a chance, unresolved financial issues will only complicate matters.

2. Have an Explanation

It’s likely that potential buyers will be curious as to why you’re selling. In this case, you should be able to explain your reasons clearly. Maybe you’re considering early retirement and want to capitalize on your business’s current value. Or you might be dealing with health issues and want to focus on your personal needs right now. Whatever the reason, be prepared to answer these questions when talking with potential buyers.

3. Evaluate Every Offer

If an offer seems too good to be true, it very well may be. Consider more than just the amount being offered; is the potential buyer capable of running your business in the way you would see fit? Will they be able to make the transition to new owner smoothly? Do they have the experience to handle bumps in the road? Vet potential buyers carefully to determine if they have both the finances as well as the acumen.

If you’d like assistance selling a business in Cincinnati, Zoellner Garten & Company has the tools and the talent to assist you. They can provide a FAIRNESS OPINION of an offer, and suggestions to make it better for all parties.  Take advantage of their decades of experience by calling (513) 852-2400 today. You can also visit their website to see a list of recently completed transactions.