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Small Business Resources > Selling Your Business - Tips to Selling Your Business

Selling Your Business - Tips to Selling Your Business

When it comes to selling your business, it makes sense to have a clear plan of action before you begin the process.

Preparation Tips for Selling your Business
  • Investigate advertising the sale of your business via the Internet as this has proven to be the most viable option for many business owners in comparison to advertising in newspapers and other print media. Case in point, here at BusinessMart.com, you can obtain a decent ad for only pennies a day since the cost of a basic ad is under $21 per month. Also, the Internet method has the capability to reach a far larger audience than other media.

  • Choose a web site to advertise the sale of your business based on the price/value offered for your money. You should also take into consideration how much attention a web site receives. The site containing more resources such as helpful articles and links are good indicators of how well the site does with regard to traffic.

Tips for Compiling Information needed for the Advertisement
  • Evaluate other existing advertisements to determine the type of information you will need to gather before placing the ad to sell your business. Try to find ads for the sale of businesses similar to yours. Record notes and print out other ads to use as a reference.

  • Determine your asking price based on the market for your business as well as the location and some comparisons to the other online ads that you have researched.

  • As you jot down the information that you will need to have on hand when you post your ad on the Internet, be certain to be descriptive enough as to the type of business you are selling. Include key words so that search engines will pick up your ad as prospective buyers look for businesses to purchase. The title, as well as the content of the ad should portray exactly the kind of business you are selling.

  • Once you note the title, next prepare the description of the business. This portion should again include the specific type of business. A general location should also be included; just the city and state if you wish to keep the exact location confidential. The description should also contain some verbiage as to why someone would want to own this business as well as everything that is included such as inventory, equipment, and furniture.

  • Other information that is typically in the advertisement for selling your business includes gross sales, cash flow, your willingness to assist with financing, and any training that is offered. You may also wish to reveal why you are selling the business.

Other Tips to Keep in Mind as you Sell your Business
  • Note that it usually takes about five to eight months on average to sell a business. Keep this in mind when selecting the length of time to post your ad, making sure to get the best value for your money.

  • If you would like your identity and the specific location of the business to remain confidential, make sure that the website offers a service that will allow prospective buyers to contact you via an online form without having to reveal your contact information until later.

  • Posting pictures with your ad may also be an option to consider. However, while this may demonstrate the attractiveness of the business for sale, it may also reveal confidential information before you are ready. You will need to decide which option is best for you.

In general, if you follow these tips, you should find that you will have a good chance of selling your business successfully without a lot of unnecessary steps.

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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