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Sell Your Business

You have good reasons to consider selling your business. It could be retirement or moving to the next phase of your life. Sometimes things get a bit too hectic, so you want to step back. Regardless of your reasons, you will want to set aside some time and energy if you plan to sell the business on your own.

Selling a business has become a lot more complicated today. Before so be mindful of risks, liabilities, legalities, and even taxation laws.

First Choice Business Brokers are the right partners who can help you. Our team will ensure that you sell your business in New York for the right price without worrying about future legal issues or tax liabilities.

Create A Strategy For The Sale

Selling a business can be challenging, especially for first-time sellers with no expertise. Moving ahead begins by establishing a sales team who will audit all aspects of your business and provide 2-5 years of verified data and a strong sales strategy. Plan to  include all your decisions regarding an accurate valuation, a marketing plan, how you will get leads for qualified buyers, a negotiation strategy, legal documentations, and a smooth ownership transition. There's no doubt it’s a lot to consider.

A strong sales strategy will save you time, money, and stress down the road, protecting you from risk and liability. As a part of the strategy, you will decide who you want to be involved with the sale: will you choose key players you trust in the business? Or keep the entire process confidential from employees, customers, and suppliers. Consider the implications of both scenarios because the wrong choice can destabilize the company and impact its value.

Actionable steps and checklists with timelines and completion dates for tasks related to the audit will keep you moving through the process toward a quick sale with satisfying results.

Doing everything yourself is a monumental task while running the business as well. Something is bound to stall and suffer, either the sales process or the company itself. When selling without a broker, owners taking on too much is a common pitfall.

Your First Choice Business Brokers in New York have an experienced team to simplify and customize your sales strategy and keep the process moving, avoiding stalls. At the same time, you focus on running a successful business.

Ensure You Highlight Your USP

A unique selling proposition differentiates you from other businesses in the area. Attracting buyers creates a competitive sale and increases opportunities to realize full value. A competitive USP is an excellent negotiation tool that supports the asking price.

It pays to highlight the USP, sending a message to potential buyers that you can offer something more than others in the area so that you stand apart from other similar businesses in New York. 

FCBB - New York enjoys long-term relationships with businesses in New York and surrounding areas. We stay with you through the process, get to know your business well, and understand your USP to make marketing your sale practical and straightforward.

Describing Your Business

One of the most important aspects of selling your business is to be clear about what you do. It may seem obvious, but business owners confuse potential buyers, unknowingly turning them away. The solution is to be clear and consistent in all documentation. Buyers need basic keywords that catch their interest. Remember to keep it simple. Here are 5 tips for describing your company:

  1. Keep it short
  2. Identify what problem your business solves
  3. Explain your solution
  4. State how it helps your customers
  5. Personalize it.

There are many times you need a concise description during the sales process. FCBB-New York will initially prepare a confidential information memorandum (CMI) to convey critical information without breaching confidentiality when attracting buyers.

Analyze Your Target Customer Base

Identifying your ideal customer profile is vital when preparing to sell your business. The more you know and share about your target customer base, the more attractive your business will be to buyers. Several tools allow you to find out more about your audience. One of the most used platforms is Google Analytics which highlights several aspects of your audience.

First Choice Business Brokers-New York provides valuable insights to present the analytics to the buyer, at the right time and in the best way. These metrics are very useful to a buyer who may need them to convince their lender your business is a good investment for them with a strong customer base.

Finding The Right Leads

When selling your business, word of mouth from referrals and networking can be somewhat successful but probably has a limited range. You need to access a massive circle of buyers. Another option is to post ads and other paid spaces. You get good exposure with placed ads, but it is often expensive and does not translate to leads as you would hope. Like newspaper ads, they are costly and have no callbacks. 

The better option is to access the vast national network through FCBB New York. We offer quality leads and accelerate the sale of your business.

Selling your business is about ensuring it presents well to the right people. FCBB has an experienced team to help market your business effectively and a vast network to access the right leads.

When you are ready to step back, retire or move on to new ventures, being well-prepared for sale will make for a better experience. Hiring a broker will improve your results and save you time, liability, and a great deal of stress. 

These are complex transactions made during life-changing emotional times. You deserve expertise to protect your interests and support you through the process. First Choice New York provides the best value and opportunity to find the right buyer and maximize the value of your sale.