It’s Business, And It’s Personal

Choosing the right buyer for a company

On Behalf of | Apr 10, 2018 | Buying & Selling Businesses |

Business owners in North Carolina may eventually decide that the time is right to sell their companies and move on to something new. However, finding a buyer can be a complicated process. To make this process easier, those who are looking to sell their companies should consider what they want to get out of the transaction. For example, it will be important to think about whether an owner wants to remain part of the company after the sale or transition away from it.

It is also worthwhile to think about the impact that a sale will have on executives and employees. These days, strategic buyers are more apt to retain the culture that made a company worth buying in the first place. While personnel changes could be made, the business model will be left largely intact. Finally, it is worth considering how a sale will impact the current owner and his or her family moving forward.

Those who are looking to sell their businesses are urged to keep an open mind throughout the process. Businesses may receive offers from both private equity firms and corporate entities. Generally, both types of buyers will be able to make offers that represent a fair market price for a business and that are structured in a manner that meets the current business owner’s needs.

When entering into these types of business transactions, it may be worthwhile to have a team of advisers. This may include an accountant and an attorney. These professionals may be able to help gather relevant documents or draft any that may need to be created prior to the close of a deal.