How To Sell Your Retail Business
If your Retail business does less than one million dollars in annual revenue, it is likely that you can sell your business on your own. This can save you tens of thousands of dollars in business broker commission fees. The DIYBizSales.com Do-It-Yourself Business Sales System gives you the tools and the confidence to sell your Retail business. The system is broken down into 9 easy to follow modules. These simple, bite-sized chunks take the “scary” out of selling your business.
These simple steps can be used to help you sell your Retail business without a business broker. Unlike traditional business brokers, we don’t charge huge commissions when you sell your business. Our flat fee model gives you the tools, tips, and techniques you need to sell your small business without a broker.
Step One – Getting ready to sell your business. When you decide it is time to sell your Retail business, there are certain things you will need to do before you get started. Just like if you were trying to go on a road trip to a place you’d never been before, you’d want to have a map involved with the planning process, right? You will need to figure out the various types of buyers and what they are looking for before you get started:
Step Two – Prepare financial and other documents. We know: it’s your very favorite way to pass a lazy weekend. Or as exciting as watching paint dry. But the reality is that prepping your financial documents is a component to success if you want to have the best chance of successfully selling your Retail business for a fair price.
Step Three – What’s your business really worth? This is one of the most important questions of the whole process. You’ve heard rumors and stories about this, but do you know what buyers are really willing to pay for a small business like yours? You’ll have a much easier time selling your business if you know how much to ask for it, how Retail business sales are financed, and proven strategies you can use to get the best price for your business.
Step Four – Create a compelling marketing packet to attract the best buyers. Advertising your Retail business for sale is a balancing act. You need to be able to tell prospects about your great opportunity while maintaining confidentiality. This module teaches you how to create a compelling marketing packet that makes you feel comfortable posting for the world to see and makes buyers interested in learning more enough to contact you for more information.
Step Five – Finding buyers and getting them to respond to your ads. Here, we guide you to the places to find ready, able and willing buyers for your business. We’ll show you how to write effective advertisements that help your Retail business stand out from the thousands of other ads your prospective buyers will read. You’ll learn the pros and cons of advertising in print and online. Plus, we’ll give you a few out of the box ideas for finding buyers.
Step Six – Screening buyers to keep the good ones and say goodbye to the bad ones. An important aspect of selling your Retail business is determining who’s serious in their pursuit of your business and who’s just kicking tires. In addition, confidentiality regarding certain details needs to be maintained. We’ll help you start a meaningful dialogue with buyers and make sure you don’t screw up your deal.
Step Seven – Negotiate a deal that will make it to the finish line. Unless you’re looking to undersell yourself, there will be an inevitable bargaining process regarding your Retail business sale. If you screw up the negotiation, you will lose money or completely drive the buyer away. We’ll help you avoid common negotiation mistakes and ensure that you gain the upper hand as you move down the path of selling your small business.
Step Eight – How to survive due diligence. Details are crucial in Retail business deals. If you don’t put in the required amount of effort and focus, your arrangement will fall through when inspected. We’ll help you avoid any sort of trouble in the legal and accounting departments, ensuring that you’ll receive your payout with no following headaches.
Step Nine – Things to remember during closing and transition. You want your money. However, you’ll need to make sure all of the smaller details of transition and making sure that the new owner starts out pleased with their deal before you enjoy your rewards.
Selling your Retail business on your own can save you thousands of dollars and be a rewarding experience. It is a relatively straightforward process to sell your small business. It will take some work, but it is definitely doable. If you follow the steps in our system and consult your attorney and accountant at the right time, you can sell your small business without paying a big broker fee.
DIYBizSales.com offers inexpensive and easy to use flat-fee business broker services to help you sell your business without the obligations and large fees of working with a traditional business brokerage firm.