There comes a time when business owners begin thinking about selling a business or considering possible mergers. If you fall into this category, and you think it might be time to receive multiple offers and attempt to get a high purchase price for your company, you should get in contact with an experienced business merger and acquisition firm.
Business acquisitions happen all the time. In fact, according to BizBuySell.com, roughly 7,842 small businesses were sold last year. As long as you’re working with a credible business advisor, you should have no trouble selling your business — no matter how large your company has grown.
Intuit Quickbooks reports that working with your advisors and reviewing all of the logistics before you place your company on the market is an essential part of the process to sell a business.
“The small-business owner must nail down the key assets in the merger and make sure they are locked up and protected,” said Quin Breland, an attorney who specializes in mergers and acquisitions. “Do the key assets include an important piece of technology? A prime market? The merger’s definitive agreement and ancillary documents should protect those key assets both prior to and after the merger.”
In addition to going over the logistics with your advisor, working out a communication plan is an important aspect of mergers and acquisitions as well. You don’t want to leave your employees unsure of their future during this process, so it’s important to communicate with each member of your team at the proper time. Let all necessary employees know about the merger and acquisition, talk about what changes they can expect, and establish a concise and detailed timeline. Your advisor will also be able to shed light on when is the wisest moment to make this information available to your team members.
As long as you’re consulting with a professional business merger and acquisition firm, you should be on the right track to efficiently and successfully get the deal done. If you’re considering selling a company or want to consult with an experienced business merger and acquisition firm, contact Aberdeen Advisors today.