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Q.Should I attempt to sell my business on my own?
A.Probably Not, but how many advisors you will need will depend on various factors- you, the size of your business, the type of business, your experience, and the complexity of the transaction. Typically, a seller will need to consult one or more advisors, including a broker, accountant, and attorney.
Even small businesses can be confronted with complicated governmental regulations and tax compliance issues. An accountant can advise you on the financial and tax aspects of the sale and prepare your financials for prospective buyers to review. Your attorney can advise you on the legal aspects, ensure compliance with relevant state and federal laws, negotiatw the terms of the sale, and prepare the pertinent contracts. A business broker, or investment banker, may be very helpful with listing the business for sale, providing a realistic value range for the business, and locating qualified buyers.
Whatever you choose to do, don't sign on the dotted line until you at the very least have an attorney reviews the terms.
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