Sale of a Business in Pittsburgh – Now a Good Time?
Timing is everything. Are you considering the sale of a business in Pittsburgh? We have pent up demand of buyers seeking businesses for sale in Pittsburgh!
Tips for a fast sale of a business in Pittsburgh
- Have up-to-date financial information available
- Prepare a current list of fixtures & equipment
- Maintain normal business hours
- Spiff up the business
- Set a realistic price
- Be willing to negotiate
- Gather all of the information a buyer might like to review
Here are two major ways to increase the odds of a successful sale of a business in Pittsburgh:
- Make sure that you are serious before you put your business up for sale. You should be willing to accept, within reason, what the marketplace is willing to pay. It’s not what you want for your business, or what your accountant says it’s worth – it’s what a buyer is willing to pay. Find out if the price you are asking is in the “ballpark” before you go to market. TM Business Brokers is a good place to start. We can tell you what you might expect to receive if you sell now.
- Be willing to finance a portion of the sale of a business. Counting on the business selling for all cash or assuming that the business can be financed will most likely make your business one of the four that doesn’t sell. By showing your willingness to assist in the financing, you reassure the buyer that you have confidence in the businesses’ ability to finance itself. Also, keep in mind that by helping in financing the business you will be entitled to interest on the balance, thereby increasing the price you will receive.
The Perfect Business
The “perfect business”, the one that would be sure to sell, has the following attributes:
- a reasonable price
- a reasonable down payment
- seller financing
- reasonable sales (hopefully steady or increasing each year)
- a compelling reason for sale
- a desired or popular industry type
- attractive and strategic location (if important for business type)
Following these guidelines and tips might not sell your business, but it will certainly increase the odds. Almost any business will sell under the right circumstances. If you are serious about selling, the first step should be to call TM Business Brokers. We can answer your questions about the selling process and what it takes to sell your business in today’s economic climate.