For your business to be desirable to a buyer, there are 8 key questions that need answered:
1. Does the BUYER have the skills and knowledge to improve the business?
2. Does the BUYER have the financial resources to buy and run the business?
3. Does the BUYER enjoy the business?
4. IMPORTANT: Does the business generate enough funds to…
A) pay the BUYER a decent income?
B) cover the payments for any financing incurred when buying the business?
C) earn the buyer a respectable return on his or her initial cash outlay?
5. Are the books and records verifiable?
6. Is the price reasonable?
7. Does the business “look” appealing?
8. Is the learning curve short and is the BUYER confident he or she will be able to manage and grow the business?
How desirable is YOUR business? Call me, I can help!