photo credit: PinkMoose
The news might seem anything but encouraging; yet it doesn’t mean there’s no hope for selling a business successfully in this market. The truth is that some deals are closing, but in almost all of these cases there are some key attributes involved. Any business owner with a company on the market or who is planning to do so should be aware of the following considerations.
Proven profitability or potential of profitability. No one contemplating buying a business will actually buy it unless they are convinced without a doubt that the business in question will be profitable. Especially in today’s economy, people want to make sure they are not going to have to work themselves to death just to brake even at the end of the day.
Buyers want to see proof that the business has potential to grow beyond what it currently is. No one wants to buy a business that is reached it’s highest peak and is stuck where it is and will never become anything greater. They want something they can turn into a bigger dream that they have in their mind.
The more assets you have in the business will make the purchase of your business better off. Banks are being very stingy these days on who they lend money to, so the more assets you can show for debt financing the better your chances are of selling your business, as suggested on Entrepreneur.com.