Britton Law, P.A.
Free Consultation For Injury Cases
910-401-3356

The key steps to follow when selling a business

Financial issues or a lack of interest in being a business owner may be valid reasons to sell a company. However, it is important for North Carolina owners to create an exit strategy long before they want to leave their companies. The first step in selling a business is determining how much it is worth. Usually, companies will sell for a multiple of its annual cash flow, and it is not unusual for a professional to help appraise an organization.

The next step is to prepare for the sale itself, and this could mean getting rid of employees, selling inventory or otherwise making the company more attractive to buyers. Once the business is ready to be sold, it is time to consider who the right buyer is and who will help facilitate the transaction.

If a company is going to be sold to a family member or trusted associate, it may not be necessary to hire a broker to help with the sale. However, if the company is to be sold to an unknown person or company, it may be best to have a professional help with the process. It is important to note that brokers will likely charge a commission expressed as a percentage of the final sale price for their services.

Selling a business will ideally be done in a controlled manner. An attorney may be able to help business owners both create and execute an exit strategy. This may make it easier to establish an appropriate sale price, find the right buyer and close on the deal in a timely manner.

No Comments

Leave a comment
Comment Information

Send Us An Email. We’ll Listen.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Britton Law, P.A.
2850 Village Drive, Suite 206
Fayetteville, NC 28304

Toll Free: 888-811-9738
Phone: 910-401-3356
Fayetteville Law Office Map

Britton Law, P.A. Office

Call Our Law Firm:

910-401-3356 ~or~ 888-811-9738
The key steps to follow when selling a business | Britton Law, P.A.