Steps You Should Take Before Selling your Business in India
Over the last decade, several foreign and local investors have been preferring India over other countries to start their business. The stable political structure, steady economic growth, favourable climate, and abundance of natural resources are some of the many benefits available here. If you already have a business in India but find it challenging to run it because of financial or other issues, selling it will be a viable proposition. But, finding the right buyer ready to pay your expected price is not easy, and therefore, it is advisable to register in a business buy sell portal which will expose your company online to potential buyers. Easy Buy Sell Business India provides a Business for Sales Center that helps you connect to potential buyers easily and get the most suitable deals.
What you need to do before selling your business
Before selling your business, you need to take these steps so that you can get the maximum price:
Time your sale properly
You need to judge if it is the right time to sell. There are more chances of getting a better price when you sell a business at its prime. If your business is not doing well currently, selling would be a mistake. You will attract good offers if your business is doing well even if your industry and other companies are presently under-performing
The reason why you are selling
One of the first questions a potential buyer will ask you is why you are selling. Be clear about why you are selling, whether it is any dispute with partners, retirement, poor health, or any other reason
Determine your business’s worth
Since no buyer will pay for potential alone determining your business value is essential. Finding out your business’s value will also help you fix a suitable price that is neither too low nor too high. If you are unsure how to value your business, you can hire an appraiser to get a detailed valuation.
Prepare essential documents
With help from your accountant, collect your financial statements and tax returns for the past three years. Make a list of the assets you are selling with your business. Keep ready any other document, such as your current lease so that you can hand them over to your qualified buyers. You also need to provide a summary of how you conduct your business, along with essential operating manuals
Selling a business on your own can be a time-consuming and stressful process with no assurance of getting your expected rate. However, when you register with a business for sale India portal, you are assured of getting the best possible price within the shortest time.