Sell Your Franchise in Arizona
Why Business Brokers of Arizona?
You’ve put years of hard work into building your business. Choosing to sell that business isn’t a decision to be taken lightly. When the time comes to sell, working with a trusted business broker ensures that you’ll find the right buyer and set your business up for success in its next chapter.
Business Brokers of Arizona takes pride in helping Phoenix area entrepreneurs navigate the process of selling their business. Sellers in Phoenix, Scottsdale, Glendale, Tempe, Chandler, and the surrounding areas rely on us to make the selling experience as seamless as possible.
Competitive Valuation
The first step in identifying your perfect buyer is generally understanding the value of your business. In order to make the most out of your sale, you’ll want a proper valuation. A price that’s too high might put off interested buyers, but a price that’s too low will devalue your business.
In order to come up with the right valuation for your business, we’ll look at your income, the financial history of your business, future industry projections, and other relevant statistics.
It’s important to keep an open mind when it comes to business valuation. Many owners don’t understand the monetary value of their business, and they may find it hard to be objective.
Your team at BBAZ understands current market trends, and we use many different factors to determine the best possible value for your business. We are on your side, and we want to help you get the best deal possible. You can be sure that we will come up with a fair and competitive asking price.
Plan for Due Diligence
It goes without saying that selling a business is a complex financial transaction. Your potential buyer will want to be confident that they’re making a smart investment, and you’ll want to be sure that you’re getting the best possible value. To that end, there’s a lot of financial due diligence involved in the process.
Although you’re in the process of selling your business, you’re still responsible for day-to-day operations, and neglecting your business during this critical time may decrease its value. Your brokers at BBAZ will help you compile all the necessary documents, including:
Legal agreements
Franchise documents
Lease agreements
Operations manuals
Financial statements
While you’re preparing for due diligence, it’s also a smart idea to tighten up your operational systems. Making sure that everyone in your business understands their responsibilities and everything is running smoothly can help to make your business more appealing. If you’re interested in additional steps you can take prior to business valuation and due diligence, feel free to ask your broker.
Transfer of Ownership Process
Once a sale has been made, ownership will legally transfer from you to your buyer. For small businesses, this process tends to be relatively straightforward. If your business is a franchise, it’s important to make sure that you’re following all of your franchisor’s procedures and protocols.
Failure to follow these guidelines may result in legal action. During the selling process, you can also expect to sign a noncompete agreement with the buyer, which will be specific to a certain area or a certain period of time.
Unless any employees will be involved in negotiations with the buyer, it’s best to wait until you are introducing the new owner to notify your employees of the sale. While some sellers find this difficult due to close personal relationships with their team, we have learned that silence is golden until the sale is complete.
Let’s Get Started
It’s a great time to consider selling your business. To begin the selling process, talk to a BBAZ broker today. We’ll be happy to provide a no cost, no obligation valuation of your business, as well as answer any questions you might have about your opportunities on the selling market.
