Business Expert Michael Roub on How Business Sale Works

(Newswire.net — July 14, 2017) Calabasas, CA — Selling a business may be a promising financial prospect but isn’t as easy as it sounds. In fact, this endeavor often consists of complicated processes that can be a challenge to navigate, and there are no shortcuts to making it work in favor of any of the parties.

For Michael Roub, a business professional with years of experience and success in various facets of business, selling a business is a tricky territory that requires cautious navigation. He underscores that in order for the sale to ensure a positive outcome, a business owner should take into account a few factors.

Selling a business may be a course of action that an owner takes due to retirement, partnership disputes, health conditions, a feeling of being overworked or boredom. Michael emphasizes that, whichever the case, a business, particularly a practice that will have to be sold, should be assigned a value. To discover more about him, visit: https://newswire.net/newsroom/pr/00095189-michael-roub-selected-vice-president-business-development.html

As a business sale requires preparation, the timing of the sale is crucial. There should be ample time to improve the finances of the business, enhance its structure, and strengthen its customer base in order to make it even more marketable. It needs to be established as one with increasing profits, stable income, strong customer base, and with major contracts for the long haul.

“The best time to sell your practice is at least five to ten years before retirement,” Michael emphasizes. “That way you maximize your value because as a provider, you’re actually one of the key assets,” he says.

Another common hurdle in a business sale involves closing the deal and managing the transition process. It is important that the transition is managed carefully. All clients must be made completely aware of the situation as opposed to leaving them unacquainted with the new ownership and consequently losing confidence in it, Michael asserts.

Finding the right buyer can be a challenge as well. According to Michael, getting up to three interested buyers is reasonable and confirming that they are qualified for financing is a must. Where negotiation is deemed necessary, pricing will have to be reasonable. All agreements should be always in writing including a signed confidentiality or non-disclosure document.

Generally, a business sale takes anywhere from six months to two years to complete. It will entail a lot of effort for a seller to come up with a sound decision and it is wise to pay attention to the factors that ensure its success, Michael concludes. For more of Michael’s advice, his YouTube video on the topic can be seen here: https://www.youtube.com/channel/UCy9StvsH9eR8Ux1XcfrQLwg