Consult With Contango Investments Before Selling Your Business
Recently a banker related to me that he is financing a transaction using an SBA 7a loan in which the Buyer just walked into the Seller's place of business and asked the clerk if the Owner would consider selling. According to my banker friend, the Seller has left a LOT of money on the table by not understanding how his company should be valued.
EVERYONE will eventually exit their business. The question is; under whose terms, for how much and when?
Every business owner has considered the following:
- When should I sell?
- How do I now if I am getting the best price?
- What would my employees and customers do if they knew I wanted to sell?
Ideally, you should sell your business on your own terms, for the top dollar, when you are ready. Have a valuations performed in order to plan your exit rather than have an opportunity fall into your lap and not have the information at hand to be able to recognize if it is a good opportunity or one that should be rejected.