Selling Your Business?

We have worked with many small business owners who have sold their business over the years, and we feel that our experience allows us to have insight into the process and the aftermath.
The first step a business owner should take when considering selling their business is to assemble a team of advisors to help evaluate, structure and complete the transaction. The team might include:

1. Estate Planning Attorney
2. Business Attorney
3. CPA
4. Financial Planner
5. Banker

It might be good to start with a business consultant, someone who can make sure your financials are in order and that you know just what you are trying to sell and who you are trying to sell to. Is your business sellable and if not, what do you need to do the prepare for a sale (hint: sometimes it can take years to properly prepare for the sale of your business)?
Your estate planning attorney and your financial planner can help you decide if you should sell your business and what happens after the sale. How will you provide an income for your family? Who do you want to leave your assets to when you pass away?
You will need a business attorney to make sure a deal is structured properly and that all legal considerations are being accounted for.
Your CPA will be there to make sure all tax issues are considered as well as being part of making sure your books are in order and that your business is easily understood.

CHJ can help you put together a team of advisors that will help you prepare for a successful sale of your business. If you already have some of the players in place (a good CPA for instance) we can help fill out the rest of the team. The sale of a business takes good planning and preparation. Let us help you get started on the right path.