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Small Business Resources > Sell My Family Business - Deciding to Sell the Family Business

Sell My Family Business - Deciding to Sell the Family Business

It can be a tough decision to sell your family business, especially if a business has been in the family for a long time. However, after much deliberation, you've said to yourself, "It's time to sell my family business." What happens next?

How to Begin the Process of Selling the Family Business
The first step that you would benefit from as you prepare to sell the family business, would be to determine how you are going let people know that the business is for sale. With the World Wide Web at our fingertips it makes the most sense to take advantage of this wonderful far reaching tool. Not only can your advertisement get in touch with a much greater audience, but you can save a large sum of money in advertising expense and sell your business quicker as well. At our web site, you can advertise the sale of your family business for as little as $20.99 per month.

Next, do some online research in order to determine the best web site for you to sign up with to post the sale of your family business. Investigate not only pricing, but how your ad will be placed. Determine what services the web site offers. Do they allow your contact information to remain confidential to prospective buyers until you are ready to get in touch with them? Also, evaluate perspective web sites by looking at the value that the site provides users, such as links to helpful resources and relevant articles and information.

Preparation of the Advertisement to Sell the Family Business
Once you have decided on the web site that you wish to advertise the sale of your family business on, you will then need to prepare some notes so that they are handy when you fill in the online form to place the ad.

Start off with deciding how much you wish to charge for the business. Evaluate other similar businesses for sale to establish the best price. Also keep in mind that prices may vary by location and market need.

Next, design your title and a brief description about the family business that you are selling. It is essential to be as specific as possible with this information so that potential buyers will know exactly the type of business that you are selling. In addition, the wording should clearly describe the type of business for sale so that when individuals search for this particular business category, yours will turn up.

Your description should denote everything that comes with the sale of your family business such as any equipment or inventory. Additionally, at least a general location will be required. You will also be asked to reveal how long the family business has been in existence. Be prepared to explain why you are selling the family business and describe why someone would want to own it as well.

Other Information to Include as you Advertise the Sale of the Family Business
Your ad will also typically include financial information such as cash flow and annual gross sales. Values of inventory and furniture may also be listed. Facilities and lease terms is another category that will likely be a part of your advertisement.

Also, you should indicate whether you plan on offering any training and if so for how long of a period of time. Indicate if there are any employees that will be staying with the business as well.

Other supplemental information may be comprised of a photo of the business. Additionally, you may wish to offer insight regarding the possibility of future growth, based on the history of the family business and market outlook.

Finally, by taking advantage of the Internet for assistance in selling your family business, you can be confident that this method should bring to you a good number of worthwhile offers in the most efficient manner.

About the Author
BusinessMart.com has become the fastest growing business for sale search engine, helping buyers and sellers of small businesses and franchises. BusinessMart.com has many resources to help you on your journey to start your own business, sell your existing business or open a franchise. BusinessMart.com has thousands of businesses for sale in the US and Canada.

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