7 things to consider before you sell your business.
Selling a business is an emotional decision.
Below are seven things to consider when contemplating selling your Funeral Home.
1. What's important to you? This is number one for a good reason. Do you want to keep working but with less stress? Do you want to spend more time with your family? What about your staff, do you wish to ensure they are taken care of? Are you ready to retire 100%?
These considerations are critical; talk with your family, associates, or spouse to establish what's important to you.
2. Confidentiality should be of the utmost importance. We will provide a mutual non-disclosure agreement to ensure all conversations are private.
3. Ideal buyer. What does your ideal buyer look like?
Would you prefer to sell to a larger corporate firm, or would you like to keep a small business feel at your Funeral Home?
Are you OK with changes, or do you want things to remain as they are?
4. Legacy. Ask a buyer how they plan to protect your legacy to assure you that the business you have poured years of hard work into will be in safe hands.
5. Professional representation. Parties interested in acquiring your Funeral Home will have legal and accounting representation in place. As a seller, be sure to consult with your advisors.
6. Documentation. Reach out to your accountant to help you prepare documentation that a buyer will need to review. Don't worry; this will be fairly simple, and your accountant will know what they need to prepare for you.
7. Clear communication. Most likely, you are busy serving families, but it's important to set up clear communication channels with a buyer. Availability to answer questions and receive and respond to emails will help keep things moving forward within agreed-upon time frames.
If you would like to receive a complimentary consultation to explore these next steps, click on the link below.