Tip:
Highlight text to annotate it
X
INTRODUCTION Hello. My name is Eric Gall. I am a business
intermediary with Florida Business Exchange in Southwest Florida. If you are looking to
sell your business, you likely have quite a few questions about the process. This video
short is one of 18 I have created in a series to answer your most frequently asked questions.
WILL MY BISINESS ACTUALLY SELL? Probably the toughest question to answer is
will my business actually sell? There are a lot of rumors out there stating only 8 or
10% of business listed for sale actually sell. These rumors are simply not true. However,
before you get too excited, the actual percentage is somewhere between 20 and 25%. Why so low?
I am of the belief that 100% of all businesses will sell if: 1) it is priced right. 2) the
seller is flexible on terms and conditions. 3) the business is adequately prepared for
sale. What do I mean by adequately prepared? The books are clean and financial statement
are defensible. The operations are clearly defined and documented. All issues are presented
fairly up front. The industry is desirable. And, the seller is capable of building a strong
relationship with a perspective buyer. Less than 10% of prospective buyers who inquire
about businesses actually buy a business. Give them a reason not to buy your business
and they usually won't. Buyers are extremely cautious in this economy. You are not likely
to fool them. More than 40% of deals are lost between an accepted offer and closing. Much
of this is due to the business not being properly prepared or issues being hidden or glossed
over by the seller. This is why it is very important to use a professional to prepare
and sell your business. It will greatly increase your odds of selling.
CONCLUSION Thank you for listening. If you have any questions
about this topic, or any other topic, please do not hesitate to contact me at 239-738-6227
or eric@buysellflbiz.com. I'm here to help you prepare your business for your eventual
exit.