“The sale of a business involves a community of trusted advisors to effectively preserve the value of a business in a transaction.”
A business owner could lose significant value on the business if they’re not prepared to sell. This can often be avoided if issues are identified early on in the process, and a plan is put in place to address them. By seeking the right transaction advisory services, your business can be ready for a sale in no time!
The sale of your business is essentially a liquidity event, where your business value is converted into cash. Cash for you, your family, and, of course, the taxman. However, if you enlist the help of a community of business transaction advisors, we can help you find the most tax-efficient method to preserve your wealth.
EVCOR insists on working with your advisors and our strategic partners to help you sell your business and ensure your wealth is protected in the process.
Understanding your business value is paramount in the business sale process, but it is irrelevant if it is not effectively communicated to the market. Additionally, it is critical to understand deal structure and negotiation tactics to translate the numerical value on paper to actual money in the bank.
The selling process is likely more iterative than either you would believe or want to believe. If you have not prepared your business for sale, you may be losing out on a great deal of unrealized value. Years before you sell, you should make and execute an exit strategy. After that, assess the value and determine if it will provide the necessary funds to carry out your post-sale plans. If this hypothetical sale price is adequate, then it’s time to make final preparations, assemble a business package, and market your business. Eventually, you will be able to negotiate and accept a deal. Don’t be discouraged by the length of time it takes for the entire process to unfold. In our experience, it takes pharmacy owners at least three months to sell their business once they start marketing it, but it could take up to a year.