October 2, 2007

How to sell your business

What I'm about to reveal to you will save you a ton of cash on so called 'How to sell your business' courses.

Yep, I'm spilling the beans… and I'm doing so because this is easy stuff.

You ready?

Here goes…

Hire a broker.

A competent broker will tell you everything you need. They will guide you in the preparation of your financials, they will find the buyers, they will setup the letters of intent, they will coordinate the due diligence process, they will manage the sale, AND they will deal with the 15% capital gains tax.

All for a measly 10-15% of the sale.

So what makes a business worth selling?

How about ANY business that generates at least $10,000 per month. That's gross profits…

So what types of businesses sell?

How about ANY business. The best are recurring income based.

That's it… hope this helps.

Woody

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Comments on How to sell your business »

October 2, 2007

Chuck @ 12:25 pm

The key word here is competent. Just like real estate agents most are not competent.

I want someone who has my best interests in mind. Someone who will actually make an effort to sell the business. And someone who actually knows what they are doing. Did I hear the umpire say steeeerike three!~

So don't just look one up in the phone book or Google. You will want to know more about this guy than you did about your wife before you married her.

I personally think you have a better chance finding a good one to sell your business(slim) then you do of finding one to help you buy a business.

Please forgive the negative tone. My intent is to warn you.

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Woody Maxim @ 12:46 pm

I've USED the broker listed in this post and highly recommend him:

http://www.woodymaxim.com/my-business-broker/

Woody

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October 5, 2007

NickL @ 5:22 pm

Hi Woody, Ever since the hoopla over Ed Dale selling his sites I've been tempted to unload one of my networks. Based on your experience what would a $10,000 a month (profit) business sell for?

If I remember Ed's sale worked out to like 8 years earnings (making $50,000 per month sold for 5 million) that's seems almost to good to be true.

Thanks!

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