Four Steps to Get Your Business Ready to Sell

The Deal Board

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2+ y ago 35:40

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Andy and Jessica welcome you to the last episode of 2021 of The Deal Board Podcast. You need to get ready to sell your business since 2022 might be the year where the market turns from being a sellers’ market to a buyers’ market and you’ll have to make a decision; anyway, it is best to be prepared to sell your business at any time!

Listen to this episode where Andy and Jessica guide you through the four necessary steps to have your business ready for sale.

Listing of the week: Austin Higgins (Asheville) is selling an e-commerce business. Asking price, $187,000, (Two-and-a-half times multiple). For more information email Austin at ahiggins@tworld.com or call (702) 443-5012.

Key takeaways:

[2:25] Step 1: Know your business’s worth.

[4:59] Step 2: You really need to clean up your finances.

[8:18] Step 3: Be ready to act quickly.

[11:15] Step 4: Have the right advisor team in place.

[16:01] Elliott Holland (Guardian Due Diligence)

[16:33] What can business owners do better to make their business look better?

[18:12] Elliott talks about the costs for audits.

[19:53] Clean up your balance sheet!

[20:49] Refinance your debt.

[21:01] Get your taxes in order.

[21:15] Get an accurate list of your inventory.

[23:06] Show some profit on your taxes.

[23:44] Elliott talks about complicated debt.

[25:43] Include a cash flow statement.

[28:10] Elliot talks about what makes a business look consistent, and what doesn’t.

[29:30] Is it too late to fix 2021 now?

[31:04] Deal of the week: Dustin Audet (Colorado) sold a 37-year-old beverage distribution business; 80 employees, two warehouses, great revenue.

[32:14] Listing of the week: Austin Higgins (Asheville) is selling an e-commerce business. Asking price, $187,000, (Two-and-a-half times multiple).

Mentioned in this Episode:

The Deal Board Podcast

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United Franchise Group

Transworld Business Advisors

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Call us — (888) 711-9018

Email us thedealboard@tworld.com.

Call Dustin Audet at (970) 618-9330.

Email Austin Higgins at ahiggins@tworld.com or call (702) 443-5012.

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146 episodes

#Entrepreneur #Business #Transworld Business Advisors #Andy Cagnetta #Jessica Fialkovich