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Thinking of Selling Your Tampa Bar or Restaurant

Five Pointers When Thinking of Selling a Businessfrom TampaCashCows.com

Everything alwayshas a beginning, middle and an end. This is true when you look at businessownership. Any business owner will inevitably start thinking of selling theirbusiness somewhere down the road. The smart business owner will start planningto sell when they’ve bought it through planning their marketing and growth.Regardless of when you start thinking of selling, there are five tips youshould know.

Resolve Any Current Business Problems
The last thing any buyer wants is to buy into old problems or litigationpending. This will keep you from finding a qualified buyer to take overownership.

Make Sure All Records are Updated
This is a vital part of your business anyway, especially with regard to thefinancial records. Make sure all your licenses, operating certificates,corporate minutes and business records are up to date.

Meet with a TampaCashCows  Business Intermediary
We will be able to give you the inside information on current market conditionsand valuate your business effectively.

Think about Seller Financing
If you want to obtain the maximum price for your business, you will want toprovide some seller financing.  Very fewbuyers will be able to provide all cash at the time of the sale. You will wantto be flexible when it comes to the financial terms. Seller financing can go along way in leading to a successful close.

Planning for after the Business Sale
If you are really serious about selling your business, you need to make sureyou know what you are doing after the sale is complete. Are you in agreementwith your family members or partners with the decision to sell? It’s importantto get ready now, but don’t put your business on the market unless you areprepared to sell.

 

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