What you should know about selling a business in Florida

The successful sale of a company is one of the most common challenges in the corporate world and depends on various internal and external factors. There is always an estimated market value of a business depending on the industry, products/services offered, company size, or location. When selling your own company, is it all about making the best possible profit, or should the company continue to exist in its essence? These are questions to ask yourself before selling your company.

How do I plan to sell my company?

The preparation for the sale of your company begins long before the negotiations with the buyer. A good place to start is to ask yourself the following questions:

• How is my company doing in the market and internally?
• How independent is the company from me (the owner)?
• Who are the most important employees?
• Are the books in order?
• What is my company’s financial situation?
• Who are my main customers?
• What are my company values?
• How much is my company worth?

If you want to sell your company, you as the owner should be concerned with more than just the selling price. Selling one’s life’s work is difficult to evaluate. The buyer, however, will want to evaluate the company purely based on future earnings. An initial company valuation using EBITDA multiples has proven very useful, especially for medium-sized companies to guide both sides towards a fair valuation. In addition, an expert, as a neutral source, can also help you get an accurate valuation. For larger companies you may want to consider a Certified Business Valuation done by a Certified Valuation Analyst, but a Business Broker can also give you an opinion of value which will give you a good idea of the most probably selling price.

Common mistakes when selling a company

Selling a company in Florida is a task that is often greatly underestimated. Frequent mistakes are not planning early enough, having the wrong motivations to sell, or unrealistic expectations from the buyer. It is important that you take your time and do not rush anything. You should also make sure to get professional advice from an experienced business broker.

Where can I find a buyer for my company in Florida? At Truforte Business Group we have experts specialized in the search for suitable buyers and who also take on other tasks relating to the buying and selling of businesses. You can find a suitable company to buy from the many businesses for sale in Florida listed on our website. You can also list a business you are looking to sell on our site to get exposure to thousands of potential buyers near you in Florida.

You may also want to check some tips on getting the best price when selling a business.