Thinking of selling your business?
When it comes to selling a business, there are many things to consider. Are you selling because business is slow? Is the market you're in too competitive? Facing financial issues? Or is it simply time to retire and remove the stress that comes with ownership? Whatever the reason, Midwest Strategic can help. Going over the base evaluation of your company, we will help you increase the selling value so you receive top dollar.
Steps to take when selling your business
Get your Finances, Contracts and other paper work in order
This is a very key first step. Gather all pertinent documents such as finances, sales forecasts, sales history, inventory, contracts, etc. This is step one. Midwest Strategic will help to prepare the documents by assembling a sales deck. T his will be key if you plan on bringing in a broker, or selling to a private equity, or venture capital group.
Increase sales, reduce costs and increase gorse margin.
This step is highly recommended if you want to get a generous amount for your business. Simply email our team at firstname.lastname@example.org and we'll work with you on a sales strategy. By looking over services and products, we will help come up with a marketing plan to push the most profitable items. In order to increase gross margin, we look at ways to cut costs and get a higher multiple when you sell.
Determine what your business is worth
The quickest and easiest way to determine what your business is worth, is to look at your EBITDA over the past 24 months. This method is not a true evaluation, however, it sets a starting point. Next, you will need to add up all of your business assets. Examples are: all open accounts receivable less than 90 days, inventory, equipment, vehicles, buildings and land. Finally, you will need to calculate all your debt.
Midwest Strategic works with many brokers, private equity groups and a few venture capital groups, so when everything is prepaid, we can help make a clear sales presentation for your business.