Pacific Rim Business Consultants - The Leader in Business Consulting Services in Hawaii
  • Home
  • About
  • Business Services
    • Financing The Sale
    • Pro Bono Speaking
    • Tax Planning
  • Franchise Opportunities
  • Business Opportunities
  • Testimonials
  • Hawai'i Businesses for Sale
  • Links
  • Media
  • Blog
  • Contact

I Want To Sell My Business

7/15/2014

0 Comments

 
At some point in the history of your business, you are going to think about selling the business.  Your first thought is to sell it to a "friend or relative", ...thinking that it would ensure a future for both you and the business. 

But is this really the right thing to do?

This idea usually starts with the best of intentions but ends up with many problems.  In most cases, owners tend to over value their businesses.  When you work with something for a long time, it is not easy to let it go.  An overpriced business is not likely to get financing when the buyer goes to the lender.  The "friendly buyer" will also go to great lengths to see that the price is reasonably correct.

This creates tension,  and bad vibes between the two "friends" and is just not a good way to go when selling a business. 

This is one good  reason a Business Broker should be brought into the deal.  Let them help establish a fair market price and deal with the other party. 

Your friendship will stay in place and the buyer "friend" will feel a sense of fairness is in place.  Lastly, you may find that your "friendly buyer" is not a real buyer.  The result of working with a Business Broker is that you will now be prepared to deal with additional buyers outside the "friends & relatives" market.



0 Comments

Your comment will be posted after it is approved.


Leave a Reply.

    Author

    Will Rodgers, Founder of Pacific Rim Business Consultants

    Archives

    August 2016
    May 2016
    December 2015
    October 2015
    March 2015
    February 2015
    January 2015
    November 2014
    September 2014
    August 2014
    July 2014
    June 2014
    August 2013

    Categories

    All


    IIUSA News


    SBA News

Please call, e-mail, fax or write us - 24 / 7 - 365 days a year.
Picture
Picture
Pacific Rim Business Consultants
License # RB-19229
​
​Hawaii Real Estate Broker
Russell W. Rodgers
Licensed Hawaii Real Estate Broker (Inactive)
366 Llimalia Loop,    
Kaneohe, HI 96744​
Phone: (808) 744-1826
​
Skype: Marine19765431
info@pacificrimbusinessconsultants.com

Great Lakes Business Consultants
Russell W. Rodgers
Licensed Michigan Real Estate Broker
6429 E. Atherton Rd.
Burton, MI 48519
Phone# (810) 213-0244 
Skype: Marine19765431
rrodgers09@gmail.com
Gulf Atlantic Business Consultants
​VIPBusinessBroker.com, LLC
Russell W. Rodgers
Licensed Florida Real Estate Broker
VIP Business Broker, LLC
2274 State Rd. #580, Suite B
Clearwater, Florida 33760
Phone # (727)639-4398
Skype: Marine19765431
rrodgers09@gmail.com
Picture
Achieve your dreams of business ownership!
​Click here to learn more.
Licensed Real Estate Broker, Florida, Michigan & Hawaii


Looking to to buy or sell a Hotel, Motel or B&B? 
The Hospitality Property Marketplace is here to help! 
Click here to find out more.

You don't need a lawyer to win in court!
Click here to learn more.
Photos used under Creative Commons from JoeRuscoe95, Hugo90