Ruth Bellissimo: Selling your business requires careful planning - Petoskey News-Review: Business

There is a saying, “All good things must come to an end,” and it sometimes applies to business ownership.

Unless there is a forced decision to sell, as in a bankruptcy or liquidation, there are many options. Much of how you proceed depends on the type of business ownership and the supporting documents, like partnership agreements, that spell out the process.

Perhaps running a business is no longer fun; perhaps a key player retires or dies; perhaps the industry is changing to the degree that building the skill sets to go further is difficult. But selling a business should never be a spur-of-the-moment decision. Make sure you are ready, both financially and emotionally.

First, there are a lot of questions that need to be answered. Is my business in the best shape to sell? Is the market right? It is more advantageous if your businesses is at the top of the game, not on the decline. And take a closer look at the market conditions. Again, it is to the seller’s advantage if there is a strong demand. Can I show a prospective buyer a bright future?

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Ruth Bellissimo: Selling your business requires careful planning - Petoskey News-Review: Business:

For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.