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800-348-5194 (Toll Free in WY)
email:WSBDC@uwyo.edu

Business Success Cycle 

 

The EXIT Phase

 

Selling or Transitioning Out of Your Business

 

Business Success Cycle 2 EXIT.png

What are your plans for your business?  Are you thinking of selling, transitioning over to family or staff?  Whatever your intentions, having a plan and reliable information will help you be successful.

 

Summary

Where do you start when you are either buying or selling a business?  What are the steps to buy a business or sell a business?  Determining a fair market value for either selling or buying a business is one of the first steps.  At any time during your journey, contact us for assistance!

 

How can a Business Valuation help you?

 

A “business valuation” is the computation of the worth, or fair market value, of an existing business enterprise or an ownership interest in that business.  Entrepreneurs planning to sell a business or transfer ownership to family members will benefit from a business valuation to establish a fair sales price.  Individuals interested in purchasing an existing business need to know the value of the business to determine if the asking price is reasonable.  Lenders or investors may require buyers to provide a business valuation as a requirement for financing. 

 

Our advisors will assist you in the process of determining the real value of the business.  A detailed analysis from a third party will help you identify what amount of the business can be financed or identify ways in which the value of your business can be increased prior to listing it for sale.  There are a number of different methods to estimate the value of a small- to mid-sized business.  We use three primary approaches, based on recognized appraisal standards:  Income, Market, and Asset Approaches.

 

Note - Business transition advising is also available for family-owned businesses interested in successfully transferring ownership to future generations.  Discussions about timing of the management transition, management training, succession planning, and financing options are necessary to successfully pass a business on to new ownership.

 

Tools for the EXIT stage