Are you preparing to sell your Columbia-based business? As South Carolina’s second largest city, Columbia bolsters a strong economy with a growing downtown area and a diverse economy. As the city continues to grow, it could be an excellent time to sell your business. Follow the steps below to begin preparing your business for sale in Columbia, SC.

PREPARE TO SELL A COMPANY IN COLUMBIA, SC

Before you try to sell a business in Columbia, SC on your own, it’s important to think about the scope of the sales process and how you’ll accomplish each step.

VALUING YOUR BUSINESS AND SELECTING AN ASKING PRICE

Once you’ve decided, “I want to sell my business,” it’s essential that you obtain a non-biased valuation of your company. With a third-party valuation, you can select a fair asking price and defend it to potential buyers.

While it is common for sellers to want to value their businesses based on the time, hard work, money, and other resources they put into building the company, it’s important not to set the listing price far above fair market value. Pinpointing that sweet spot where the price is fair for both the buyer and seller is key. You want both sides to come out feeling like they got a fair deal. We take a look at the Columbia, SC market, and your business to make reasonable recommendations we believe will result in a sale.

LISTING YOUR BUSINESS FOR SALE IN COLUMBIA, SC

Getting your business listing in front of the right people is one of the most important parts of the selling process. At VR Business Brokers, we use our network to promote your business to the right people. We have decades of experience brokering deals in a variety of industries, and know how to connect qualified buyers with the right sellers.

NEGOTIATING AND CLOSING A DEAL IN COLUMBIA, SC

Once you have an offer from a qualified buyer, it’s time to negotiate the final sale price and close the deal. Very rarely does the buyer come in with an offer at your asking price, so it is important to know how to negotiate and make sure you get a fair price for your business. Our brokers are experts in negotiating and will advise you on when to give a little and when not to budge. The goal is to make both sides walk away pleased with the outcome, so we offer advice with that objective in mind.

The length of the sales process varies greatly from business to business. Some sales could last months, while others may go on for years. Enlisting the help of a trusted business broker like VR Business Brokers of Charlotte simplifies the entire process, and gives you confidence that you will only meet with qualified buyers. Contact our team about selling a business in Columbia, SC today!