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Issues to consider when selling a business

| Apr 17, 2019 | Buying & Selling Businesses |

It is important to time the sale of a North Carolina business properly. This can allow its owners to sell the company for the most money as well as to the right buyer. There are a series of questions that should be asked before beginning the process of exiting a company. The first question is whether the owner is ready to sell.

Prior to putting the organization on the market, its financial records and other documents should be organized and ready to view. There should also be an appraisal done to determine how much the company is worth. The appraiser will consider how much equipment and other assets could sell for in addition to any intrinsic value the brand has. It can also be a good idea to look at how much other companies are worth when creating an asking price.

Whoever buys the company will need to have the proper expertise to run it properly. In some cases, this may mean that whoever acquires it will need to obtain licenses or go back to school. A buyer should also be a good culture fit as employee morale will be important during the sale process as well as after the sale closes. Sellers should also be aware that some buyers may need financial help to close a deal.

The sale of a business may be structured in a variety of different ways. For instance, a buyer could purchase business assets as opposed to equity. It may be worthwhile to consult with an attorney to determine the best way to handle this type of a transaction.

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