Anthony Cerminaro: “Understand that what is being sold is a business opportunity. Potential buyers look at a business with an eye to the future. Sellers are often stuck on past performance. Equally important is for the Seller to have a realistic understanding of how valuable the business really is. To do this, Sellers should do their homework on the market for businesses like theirs. Dig in and thoroughly understand why someone would want to buy your business and what would increase the value of the business in the opinion of the buyer. All of the foregoing should be undertaken with the aim of obtaining multiple, enthusiastic potential buyers for the business.”
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