Business: Fundamentals of Selling A Business

Fundamentals of Selling A Business - Preparation

Written by Jim Brown

Continued from page 1

Business Records

You should organize your business records such as any articles of incorporation, tax records, leases and contractual agreements, and payroll records. You should gather documentation relating to patents, trademarks, copyrights, licensing or franchise agreements, and bank loans.

If your business requires a license or permit to operate, ensure that it is current and readily transferable. You should get a hold of repparttar necessary paperwork that would help transfer repparttar 105320 license or permit to repparttar 105321 new owner.

Businesses are either located in a leased or owned facility. If it is leased, you should check that you have a copy of repparttar 105322 lease for review. Potential buyers are concerned with repparttar 105323 lease terms, especially with repparttar 105324 number of years remaining on repparttar 105325 lease. It is optimal to have at least three years remaining which can be transferred to repparttar 105326 new owner. You may want to negotiate with repparttar 105327 landlord for an extension or an option to renew, and you should find out repparttar 105328 conditions that must be met for a lease transfer, assignment, or sublease. If repparttar 105329 facility is owned, you should have repparttar 105330 property appraised.

© 2002-03. GlobalBX. http://www.globalbx.com. All rights reserved. Buy a Business or Sell a Business on GlobalBX. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate repparttar 105331 buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Lists businesses for sale, business brokers, and franchise opportunities.

Jim Brown is Director of Marketing at GlobalBX, http://www.globalbx.com. Buy a Business or Sell a Business on GlobalBX, a free business for sale listing exchange that provides a confidential forum to facilitate the buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Lists businesses for sale, business brokers, and franchise opportunities.

How to find a Professional Advisor that is right for you?

Written by Jim Brown

Continued from page 1
Education - A good business broker should have a sound knowledge of finances and preferably have accounting qualifications. Specialize - The broker must specialize in businesses and not be involved in real estate or commercial property. Credentials - The broker must be licensed or approved to sell businesses under repparttar

regulations in your state. Facilities - The broker should have office facilities available for meetings and to which you are able to direct inquiries by telephone when necessary. Be available - The broker must be available by phone, even if it is just his mobile, so that you can clear queries that arise immediately. Alive - The broker should have sufficient energy to be able to give repparttar 105318

time to help find your business quickly. In this regard age will come into it because on repparttar 105319

one end a broker that is young will not have repparttar 105320

experience or maturity to handle repparttar 105321

assignment properly, and a broker that is too old will not have repparttar 105322

stamina or repparttar 105323

energy to do repparttar 105324

job quickly. Easy to get along with - Your broker must be someone that you believe you can put your trust in because you will be working with him or her quite closely in repparttar 105325

future. He or she must have credibility and bring across to you a sense that you can rely on him or her to secure a good business at repparttar 105326

best price in repparttar 105327

shortest amount of time.

Finding a good business broker is difficult, but you definitely need one to help you in your business search. If your accountant or attorney cannot refer you to a business broker that is "right" for you, ask your banker or other advisors for a referral. Your family and friends are also excellent resources.

© 2002-03. GlobalBX. http://www.globalbx.com. All rights reserved. Buy a Business or Sell a Business on GlobalBX. GlobalBX is a free business for sale listing exchange that provides a confidential forum to facilitate repparttar 105328 buying and selling of businesses with thousands of businesses and franchises for sale as well as comprehensive business information for business buyers and business sellers. Lists businesses for sale, business brokers, and franchise opportunities.

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