How to sell my business

Question

Hello all,I would like some advise on where to start if I want to sell my business. I live in Phoenix AZ, and about 8 months ago I started managing my parents cleaning business. They own a commercial and residential cleaning company that currently has about 400 clients combined and about 60 employees.I was asked to come work in the family business so I can help straighten it up and bring it to its highest potential so it can be sold for what it is worth. After 8 months of hard work it has come a long way and we are ready to start looking into selling it. I know this is a long process and would like to start getting informed on how to get it ready and where to start.&nbsp;&nbsp;Thank you,

markheiks · Answer

We were invited to a seminar on this topic once and the organization seemed to have a very good handle on a very tricky market. &nbsp;There are a lot of scammers and snakes as in most things. &nbsp;Look into Generational Equity. &nbsp;They did a free seminar that explained the world of Mergers and Acquisitions and there is much to know. &nbsp;Proceed with caution. &nbsp;You’ve worked hard to build a family business…get what it is worth. https://www.generational.com

jorge_newimage · Answer

Thank you sooooo much! i will look them up

judithvirag · Answer

What buyers are looking for is a turn key business.&nbsp; Make sure all your contracts are signed and up to date with your customers.&nbsp; Same with your employees.&nbsp; Systems and processes are in place as well.&nbsp; This is what I would be looking at if I would buy a business and of course profitability.&nbsp;

ryaantuttle · Answer

Hopefully the business was built to sell. The first thing you want to do, is find a solid legal team that has M&A experience. From there you'll want o plan with you CPA for AFTER the sale. Next, it's time to get ALL of your books ready along with taxes, client lists, etc.
Once you have all of that in order, you'll want to find a broker that specializes in Home Service businesses. They will be able to help valuate the business and then list it.
The real work starts once the business is listed and you start talking to potential buyers. From there you'll have a much better perspective on how long and how much money this will take. Once you accept an offer, it can take anywhere from 3-6 months to close that deal.

From my experience, it's a very emotional and lengthy process that you can't truly understand until you walk though the ENTIRE process.

Best wishes with the sale!!!!!!!

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How to sell my business

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