When selling your small business you need to realize that the person buying your business is mostly concerned with how much money they will make. Nevertheless, it is up to you to explain to them how much work it is so that they do not misconceive what they are getting into. When explaining how much money the prospect of business buyer will make it is important to also explain the amount of expenses that you endure. The key to any small business is cash flow and the difference between the amount of money you spend in expenses and the amount of money you take in in income. When selling your small business most small-business owners care very much about their customers and they are almost more concerned to make sure that those relationships they have built up with their customers will be maintained with the new business owner. Of course when you're selling your business you have to make sure that you get enough money for your business to make it worth your while or you should not sell it in the first place. You should consider asking at least 10 times your monthly gross income when putting your business up for sale. And you should also expect to spend at least two or three weeks minimum with the new buyer helping them along in the transition otherwise their business will fail. Please consider all this in 2006. |
