Why Selling Your Business is One of the Biggest Transactions of Your Life
You worked hard for years to build a profitable business. Now, the time has come to find the right buyer. Selling your business represents one of the biggest, if not the biggest transactions of your life. The value of your business most likely is worth more than any other asset you own. Even selling your home does not generate as much revenue as selling your business. However, selling your business is not just the biggest transaction of your life for monetary reasons.
You also have to consider several factors that define your life after running a successful business. Working with a team of experienced business brokers helps you find the right buyer. Sunbelt Business Brokers market on over 200 business for sale portals, and we spend a considerable amount of money marketing your business for sale. This is why we are so selective about the listings we take.
What Are the Consequences of Selling Your Business?
Many entrepreneurs and business owners do not understand the consequences of selling a business for personal, professional, and financial reasons. To prepare for one of the biggest transactions of your life, you should consider several factors.
Protecting the Value of the Sale
Earning a healthy return on your business by selling it can take care of you and your family for the rest of your lives. However, you have to know how to shield the value of the sale of your business from market and taxation risks. How you protect the revenue generated by the sale of your business depends on your financial status, as well as your professional goals after selling the business. Our team of business brokers can provide you with a free valuation, as well as resources to help protect the value of your sale.
What Are Your Tax Obligations
Working with a tax professional or a certified public accountant (CPA) helps you fully grasp the tax implications of one of the biggest transactions of your life. The IRS typically determines the tax liability for selling a business by calculating the revenue generated by the sale of individual assets, not the value of your business as a whole entity. You have to separate assets into different categories and then assess a value for each asset before you calculate total tax liability. Our confidential free valuation takes into account the IRS standard of valuing individual business assets.
Prepare for Your Next Business Venture
As an entrepreneur or business owner, developing ideas for starting a business is one of your strengths. If you do not plan to retire, you might want to consider owning another business. Planning your life after one of the biggest transactions you will ever make should start long before you sign the documents that finalize the sale of your business. Pay attention to business trends and create an initial budget that allows you to plan financially for the next step in your career.
Many entrepreneurs and business owners experience a void in their lives after selling a business. Devising a carefully thought-out plan for the next stage of your life can help you make a smooth transition after selling your business.
Sunbelt Business Brokers sells more businesses than anyone else in the world. We offer custom deal structures, dedicated financial advisors, and compelling marketing assets that get our customers the best price for their business. Sunbelt takes the time required to pre-screen every buyer by establishing a profile and receiving a Personal Financial Statement (PFS). Because we do the original legwork, you get a head start on selling your business.
Contact Sunbelt Business Brokers of Naples for a free valuation & consultation.