How Do I Sell my Business?

**vek5** · 07-01-2008 09:39 PM

I have a business that I am looking to sell.

The business has done very well, but I am looking to move on to other things.
The Business does all its orders online, and has a warehouse of inventory that can be relocated anywhere. We have built a reputation in the beer pong industry, nurtured contacts with manufacturers, developed a Rep Program, sponsored numerous tournaments, used innovative marketing techniques, and have done very well in sales. How do I go about selling this click-and-mortar business, that can be easily relocated anywhere in the US and is a turn-key operation. We do 80K in revenue a year (with out a penny of advertising) and the whole business can be run by one individual person.

Your help is appreciated.

K O T A B L E S . C O M

**richkid** · 07-01-2008 09:46 PM

you could try the sitepoint marketplace...SitePoint Marketplace - Buy & sell established web sites, turnkey websites and more

**vek5** · 07-01-2008 10:07 PM

Sitepoint is more geared on websites. My business involves an online storefront but requires warehouse space. Where are other places I can sell this click-and-mortar company.

**conz3434** · 07-01-2008 10:43 PM

Hello!
First off, congrats on building such a succesful business. Also, I will be the first to say that beer-pong is a favorite past time of mine! Anyhow, I am a business broker and my entire job is to broker the sale of businesses. Often like a real estate agent, but with strictly small to medium size businesses.
As a business broker my firm specializes in marketing our listings on specific industry types, using many different avenues. We market businesses from local liquor stores, to large manufacturing companies, to relocatable online businesses.
We also have a large database of buyers who are always interested in our listings. We allow entrepreneurs to concentrate on running their businesses while we concentrate on selling them.
Please feel free to contact me with any questions. I would love to help you sell your successful venture!
-Conor
708-288-8367

**just1guy** · 07-02-2008 08:11 AM

I'm not against a broker, but just like real estate, you should be careful before selecting one. They work off commission, make you sign contracts, and force an NDA on anyone prior to even showing them the business name. Now that being said, a good broker with a history of sales and a good network of potential buyers can be a good thing.

Before that, the first thing I would do is get my business evaluated for sale price. A good estimate is 4-5 times EDITDA, but get an estimate professionally done. Then you can determine how to proceed. Some options after you know what your company is worth:
1) Approach local competitors that are doing well and feel out their willingness to bargain. Often competitors will jump at the chance to purchase a company as its cheaper to buy up existing market share than carve it out.
2) Research other companies that could potentially use your company to grow into another business model and approach them.
3) Depending on the size of the company, you could have the option of letting the employees purchase the company. This gives the owners a quick buyout, but you would most likely have to stay for a set amount of time to ensure a smooth transition.

**jasaunders** · 07-02-2008 08:24 AM

Hi Vek,

The most effective way to sell your business is through local professional contacts. The best are usually from accountants and CPA's as well as lawyers. I would talk with your CPA and lawyer about selling your business. As well as helping you to prepare to sell, ask if they know anyone who might be interested.

If this doesn't work, you may want to send a letter to all the large CPA firms in your area. Simply state some basic information about your business and express that you are wondering if they have any clients currently looking for a similiar business. Many people in the market to buy businesses, do so through referals from CPAs and lawyers.

Of course, there are always business brokers as someone else mentioned as well as listing services. But for a business of your size, it might be easier to do it on your own.

**veikoh** · 07-03-2008 04:56 AM

BizBuySell has been good place

**LiL1Penny** · 07-03-2008 08:50 AM

Hey vek can you pm (or if you still have my email) me with some details of what all will be included in the sale and what you are looking to get out of the deal.