Are you planning on selling your business? If so, there are some important factors you need to be aware of.

First, the buyer may want the seller to sign a non-compete agreement. This may involve a geographic restriction or a time restriction to ensure the seller doesn’t poach any existing business contracts that would undermine the business.

Second, realize that you will likely need to be involved for some period of time after the sale of the business. This is because the buyer wants to ensure they have all the knowledge required to ensure they can operate the business. They may ask you to stay involved for one to six months or more. The amount of time can be negotiated as part of the purchase agreement. As you negotiate the sale of your business keep in mind the interests of the buyer to maximize the potential of the sale of your business.

Contact Evolution Advisors to sell your business today: https://evobizsales.com/

 

What You Need to Know When Selling Your Business