So you want to sell your business? The first thing you should do is get educated on the process. There are tons of resources out there ranging from books to websites, to videos, podcasts and white papers. Being an educated business owner is absolutely critical to getting the highest and best price for your business. A word of caution though, do not limit yourself to understanding only the process and value. Also understand the dynamics of your particular market place, the buyers’ fears and concerns, and the outside forces that can impact a business sale.
You see in the Florida Market unlike any other there are multiple variables impacting the sale of your business. Central Florida and the Greater Orlando / Kissimmee Market has the highest number of E2 & L1 Visas of anywhere in Florida. As a consequence thinks like exchange rates, Brexit, international tariffs, and crises all can drive buyer activity and demand. If you understand those dynamics you can maximize your sale.
For Sellers of businesses that are larger in size the dynamics associated with the SBA are absolutely elemental to understand. Failure to understand what the SBA requires and the dynamics of seller financing as part of a deal can impact your deal viability and structure.
In short, you should at the very minimum have a general understanding of all these items and be able to ask your brokers about them and how they impact your business when the time comes to sell your business.
For more on this topic and the specifics of selling your business in the Orlando / Kissimmee market contact Michael Shea PA with Transworld Business advisors at 321-287-0349