Selling your business takes planning and careful documentation of information about the business. The financial statements have to be brought current and also all past information say for the last five years should be reviewed for accuracy. A current inventory should be prepared if the business is inventory sensitive. A list of leases, legal obligations, loans to be assumed and other obligations should be made and classified. In short, all money matters of any importance should be noted and documented.
Looking for potential buyers: A well-known business can be easily sold by spreading the word, otherwise you will need to reach to a wider audience. You could also hire a Business brokers in bangkok online.
Your broker should be able to explain business valuation to you clearly and if he or she can’t, then how can he or she explain to a buyer what your Business brokers online is worth? Make sure your broker is confident in this area.
Tour companies are committed to ensuring your trip is awesome. They are the ones who own the buses, pay the drivers, and hire the customer-service staff. Your happiness lets them continue to operate as a business. Brokers don’t have that level of commitment. Their job is simply to fill seats at whatever price they can get.
What are the details of the final sale price fee that these brokers charge that one should keep in mind? This can be considered in a number of ways. You can follow the regular manner business brokers charge: ten per cent of the first million made on the sale, eight per cent of the next, six percent of the third and four per cent of the rest.
Negotiate – Ok, now you know what the seller wants and you know what you want. On this step, the objective is to get the two wants to match up and agree with each other, so that the deal can take place. What you are trying to do at this stage is decide if you are going to go ahead with the deal or if you are going to continue talking with the broker and the seller until what they want is closer to what you want. The key here is keeping the conversation going (negotiate). As long as the conversation is going, it is much more likely to result in the deal taking place. So keep the conversation going!
Second, if your credit score is 650 or less, you will struggle to get a loan. That may sound blunt but it’s the truth. The main purpose a bank is in business is to make money. They make money by giving loans to people who can pay them back. A low credit score is one of the tools a bank uses to decide whether you are worth the risk and therefore if you will pay back the loan, with interest. Yes, this is very simplistic but your credit score is very important.
Because they’re trying to play a game with you. And if they want to play games, let them play with somebody else. Don’t let them waste your time. There are plenty of good businesses out there to buy without having to play any games. Don’t invest even a second of your time with people trying to play this game. No matter how sweet the deal may seem on the surface. It’ll suck you dry of time, patience and sometimes…even money.