How to Sell a Business in California
Every state has its own laws and requirements for everything. Same is the case when it comes to selling a business. The rules and procedures for selling a business vary from state to state. If you are a business owner and you want to sale your business in California then you should be clear about the worth of your business. People list their business for sale everyday but most of them remain unsold, the primary reason being they are demanding more than the worth of a business. It does not matter how much you have spent in your business in the past, it would only be sold at its current worth.
Keep in mind that the business going in loss is hard to sale as compared to the business which is earning profit but one should neither be hopeless nor too confident. You should keep in mind a suitable range for which you are willing to sale your business and it is very important that you target the right audience. The size and scope of your business helps you in determining the target market of the business, therefore your efforts should be limited to only those people.
Instructions
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1
Read newspapers and check online what other business owners are demanding for the similar business, this will help you get a clear idea about your business’s worth.
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You should also approach a relevant real estate agent as he would be able to tell you the exact worth of your business. Do not rely on just one agent; try to visit a couple of brokers.
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Identify your target market and approach them in a suitable and effective manner. You should be sure whether you want the sale to be public or you want to keep it a secret, as you might lose some of your customers if the sale is public.
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Consulting a broker is not the only option, you can take benefit of the services of an appraiser but it would be relevantly costly.
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Prepare a marketing plan for the sale of your business and be careful while choosing the marketing tools. You should prefer the medium that gives you most clientele.
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You can also advertise about selling your business in the local newspapers and business magazines.
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Do not forget to seek help from business trade organisations as this is one of the most effective ways.
