Business Sellers, do you know what happens to overpriced businesses when they are taken to the for sale market?
Buyers and their teams are smart and they know an overpriced business when they see one and they know it quickly. If your business cash flow doesn’t match up with your asking price, the best buyers won’t even consider your business. They will move on to another one that is priced right.
CBI can help you determine a reasonable asking price for your business by using tools we have available. Remember, CBI does not do business valuations, we look for a range of value to assist business owners in the decision about whether or not to take the business to market now or do some financial rehab to increase cash flow.
If you have reason to believe your business is worth more than the market generally accepts, then CBI will recommend and independent, third party, certified business valuation performed by a company that does those and is qualified and recognized by lenders, the IRS and courts.
But, whatever you decide, don’t decide to overprice your business and look for the “bigger fool.”
There are many bad things that happen to an overprices business:
- It won’t sell
- Your employees, vendors, lenders and customers may find out you’re trying to sell and go elsewhere.
- You will waste valuable time and resources in handling “bad” inquiries with no hope of getting paid.
How does CBI know these things?
Been there, done that.
Learn from our pain.
And that’s all I have to say about that……….