I was meeting recently with a business owner who was concerned about being able to sell a business without any hard assets or employees. He was trying to determine the value of his business.
The fact is, you don’t need to have a lot of hard assets or employees in order to have a business that buyers will find attractive – and one that could even attract multiple offers in today’s market. Many home-based businesses fit this category. The market is actually very strong for the right business opportunity.
That’s due, in part, to the fact that many buyers are attracted to businesses with low-overhead and a limited number of employees. Buyers frequently want to find something they could own that they can operate from home. It’s a lifestyle choice many business-buyers are choosing to make today.
Here are a couple of things that will make your business more attractive.
First, make sure you are documenting your daily processes and procedures. This adds a lot of comfort to the buyer’s decision; they know exactly what they are purchasing. And, it also helps ensure a smooth transition
Second, make sure your customers have a relationship with your business, not just with you. This helps ensure they stay with the business when you sell to another entrepreneur.
Small businesses without a lot of assets or employees ARE attractive to the right kinds of buyers.
And, in today’s environment, there are plenty of interested buyers out there for the right business.
Sunbelt Business Advisors