Preparing Your Business for Sale

Preparing a business for sale is not usually one of an entrepreneur or small business owner’s highest priorities. The complications of the day-to-day running of a business often keep business owners from effectively planning for the future. Nevertheless, most business owners ultimately have to confront the reality of needing to sell their business. Oftentimes, the need to sell is triggered by unforeseen circumstances, such as death or disability, a divorce or other circumstances which may put extra pressure on the situation and make effective planning and decisions very difficult. Some basic steps taken well in advance will help facilitate a smoother process and likely produce a better financial result when the time comes to sell.

This website is tailored for what I call the “green industries.” When we use the term green industries, we are refering to landscaping services, lawn services, fertilization and weed control services, nurseries, garden centers, landscape supply, tree farms, sod farms and similar businesses. These businesses have in common that they involve selling products or services related to horticulture. They are part of a large and vibrant industry that includes both very large corporate entities and many, many small businesses.

While they have certain similar characteristics, they have many differences. Some sell products, others services. Some focus on residential customers, others on commercial ones. Some focus on end users (residential or commercial). Others operate at another level of the supply chain. Some are highly profitable while others operate on much smaller margins.

Some of the things to think about in preparing your business for sale include (1) making your business attractive to potential buyers, (2) making sure you have good records that will help support a buyer’s valuation of your business, (3) eliminating any roadblocks to a transaction and (3) making sure you have advisors in place to help you through the process.

The posts on this website under the category Preparing Your Business for Sale are intended to provide suiggestions and guidance to help ensure you are as prepared as possible for the ultimate sale of your business.