The Exit Eagle SERVICES
We Help You to Sell Your Business for the Best Possible Price
Our Guiding Principles
- Make sure we get the best price we can for the value the business offers.
- If they don't have enough value to accomplish their goals, help them to create it.
- Always remember that there are families, employees and customers who will benefit -- or suffer -- from how well the work is done.
- Partner with owners and other service providers who share our passion for honesty and integrity, and creating the WIN-WIN deal!.
KNOW THE VALUE OF YOUR BUSINESS
98% of business owners don't know how much their business is worth; how much someone would be willing to pay for their business. We have always been taught to track profit, but value is the driver for getting the best price you can when you sell your business. And if your retirement fully or partially relies on achieving a good sell price for your business, you may well need some time and effort to achieve the value that will bring in the funding desired to support the retirement of your dreams.
Some business owners don't want to sell their business. Perhaps they want to put together a Buy/Sell Agreement with their partner so the partner "left standing" pays the other partner's family an agreed upon price to assume ownership of the other share of the business. Or perhaps they want to pass the business to an heir; even then, believe us when we say, you still need to know value for business and tax planning purposes!
"I've spent as much time with the laborers as the owners and managers of companies. That gives great advantage in assessing how to grow value, knowing how the work is done, because you learn from the people doing the work where the hidden opportunities are. Put that together with industry research: that's what helps to develop a realistic Unique Value Proposition."
--Virginia Altman, Founder, The Exit Eagle
Value Acceleration Influencers: Time vs. Money vs. Type of Buyer
When we talk about "Target Market" in relation to planning what you are going to do to prepare to exit your business, it's really important to take into account the Type of Buyer that your business will be able to attract.
For example, consider a manufacturing business with ancient equipment and unresolved environmental issues. The amount of money that you would have to spend to attract a Premium Buyer is likely to be more the business would sell for. So best to sell "As Is" hopefully to a Bargain Hunter and not a Snark.
On the other hand, if your financials are in order, you have a good profit margin, employees who will stay: For heaven's sake (or your family's), spend the bit of money that will eliminate the detractors from your stand-up offering! That could shift you from a Judicial to a Premium buyer!!!
There are four types of buyers:
Type of Buyer: Do you want a Premium Buyer who will spend whatever it takes to get what they want? A Judicial Buyer who carefully balances benefits and costs? A Bargain Hunter who only buys a "good deal"? Or a SNARK, who looks for the vulnerable deal that he (or she) can exploit?
Money: How much money can you afford to spend? Enough to develop some process flows and training materials to make the business easy to learn? Enough to pull together an informative customer list? None?
Time: How much time do you have before you need to exit your business? Ten years? Five years? Three years? One? None?
- Tax Returns and Income/ P&L Statements don't match
- Presents an uncared for/ cluttered appearance
- Customer List doesn't exist, or doesn't contain complete information and/ or history
- No recurring revenue
- Legal disputes
- Undocumented processes and procedures, and no training tools
- Unremediated environmental concerns
- Single product or service
- Lagging behind industry technologies
- Price doesn't match buyer type
- Opportunity for growth not visible
- Unstable employee situation
- Unreliable profit
- No documentation of quality
The Exit Eagle can provide you with the information you need to make sound, profitable decisions on how to plan your business exit.
Schedule a free consultation today!
The sooner you get started in increasing value, the better!
SELL the Value of Your Business
7 Steps for Selling a Business
3 Exit Eagle Packages for Selling Your Business
We are writing a book on Tips and Tools for Preparing Your Business for Your Exit. To that end, we are conducting interviews with business owners to hear what questions and concerns they have about exiting their business. Would you consider allowing us to interview you for 20 minutes on the topic? Thank you in advance.
Click a button below to schedule a Preparing to Exit book interview.