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FCBB Will Help You Buy a Business or Sell Your Own Existing Business

Buying and selling a business is trickier than you think. It’s way different from house hunting – there are many legal contracts and processes to go through to set yourself up with the right people. When you decide to buy or sell a business, a professional business broker can help you through the entire transaction.

First Choice Business Brokers Pittsburgh will help you with your business sales. As the Pittsburgh area’s most trusted brokerage firm, business owners can rely on us to connect them with potential buyers. Likewise, aspiring business owners can count on us to find quality businesses for sale.

All of our business brokers are educated and highly trained business sales associates. Our team comes from diverse backgrounds such as business ownership, accounting, banking, real estate, and executive search. You can rest easy knowing our brokers are experienced in the industry. We make sure our team is well-versed in business evaluation, business sales, business marketing, and buy/sell negotiations to satisfy both buyers and sellers.

First Choice Business Brokers is nationally known for our expert handling of all business sales. Established in 1994, the company has expanded all across the country to become the nation’s largest business sales organization. As a part of their franchise, we have access to their extensive network of buyers and sellers across the United States. We offer Pittsburgh area buyers the best of both worlds: a nationwide selection of businesses and the individual attention available in smaller markets.

When you’re interested in buying or selling a business, don’t hesitate to call our professional business brokerage firm. Our team of brokers will help you find a smart investment that satisfies all of your professional and personal needs. 

Six Things to Consider When Selling a Business in Pittsburgh, PA

1) Sale Structure

This will dictate how the sale is structured and what type of buyers are interested. There are three common types of sales structures: asset sale, stock sale, and merger. Each type has its advantages and disadvantages that should be considered in light of the specific situation of your Pittsburgh, PA, business being sold.

2) Buyer Due Diligence

This process includes investigating the potential buyer's financial stability and ability to purchase the business. The due diligence process also includes reviewing the potential buyer's business plan and understanding their motives for wanting to purchase the business.

3) Smooth Transition for Employees

Ensure that employees can transition into the new company without any disruptions. This can be done by providing them with resources and support during the transition process. Communicate with employees throughout the transition to ensure they are aware of what is happening and what their options are.

4) Your Emotional Readiness

The sale of a business is a very emotional process, period. Many emotions can come up during the sale, such as fear, anxiety, sadness, and even relief. It is vital for you to be aware of these emotions and prepared for them.

5) Tax Consequences

The amount of tax you will owe depends on the type of business, the sale price, and the deal's structure. If you are not mindful, you may end up paying more taxes than you need to. It is advisable to discuss with a tax advisor to determine the best way to structure the sale of the business to minimize the tax consequences.

6) Your Future Plans

This includes what you want to do with the money from the sale, how much time you want to spend working on the business, and what you want your legacy to be. If you are doubtful about your plans, it is best to consult with a financial advisor or attorney.

Benefits of Selling Your Business

1) Generates Liquidity for You

When you sell your business, you generate liquidity, which is the ability to convert assets to cash quickly and easily. This can be handy if you need access to cash quickly or if you want to invest in another business venture, pay off debts, or simply enjoy a more comfortable lifestyle.

2) Protects Employees

Selling your business protects your employees by giving them a sense of stability and certainty. They know that their jobs are in safe hands and that the company will continue to operate smoothly, albeit under new management. This can help reduce stress levels and increase morale. It also gives them a chance to continue working in an environment they are familiar with and comfortable with.

3) Cut Losses

Your business may be struggling, and you want to recoup some of your investment before the business fails. By selling the business, you can salvage some value from it instead of losing everything. In short, selling a business is a proactive measure taken to avoid future losses.

4) Sell at a Higher Price

If market conditions are favorable, you will receive a higher price for your business. This is because buyers will pay more when the market is good. Also, the demand for businesses is higher when the economy is doing well, so more buyers are looking to purchase businesses.

5) Pursue Other Projects

You will become free by selling your business to pursue other projects. This is because you are no longer responsible for running the business, which can take up a lot of time and energy. It is also a great way to diversify your portfolio and income streams and explore new areas of interest.

6) Spend More Time with Family

When you sell your business, you'll no longer be tied down to the business's day-to-day operations. Instead, you'll be able to focus on your relationships and enjoy your free time. This can be a great way to bond and build lasting relationships.

Sell Your Business - FAQs

1) How do I know that my business is saleable?

There are a few key factors to consider. First, it is important to consider the potential buyer pool for the business. Are there likely to be many buyers in Pittsburgh, PA, interested in your business? Second, it is important to think about the value of the business. How much is the business worth? This can be determined by revenue, profitability, and growth potential.

2) How to value my business's worth?

To value your business, you need to consider a few factors, such as the industry, company size, financial stability, and growth potential. You must also look at comparable companies and see how they are valued. There are a few valuation methods, but the most common is the discounted cash flow method. This considers the company's expected cash flows and discounts them back to present value.

3) How to set a price to sell a business?

First, you'll need to decide what valuation method you'll use. There are methods such as market value, book value, and earnings power value (EPV). Once you've chosen a method, you'll need to gather data on similar businesses that have recently sold. This way, you can determine a fair price for your business.

4) How long does it take to sell my business?

The timeline for selling a business depends on several factors, including the size and complexity of the business, the industry sector, the current economic climate, and the availability of buyers. In general, it can take a few months to complete a sale. However, some businesses may be sold more quickly, while others may take longer to find a buyer.

5) Why should I use an advisor's expertise to sell my business?

An advisor can help identify potential buyers and negotiate with them on your behalf. This can save you a great amount of time and effort and help ensure that you get the right price for your business. Second, an advisor can help you prepare your business for sale, including developing a sales strategy and marketing materials.

6) How to find the right buyers for my business?

You will want to consider a few factors to find the right buyers for your business. First, you need to zero in on your target market. Once you have identified your target market, you will want to research where they will likely look for products or services like yours. Ask the following questions yourself.

Who are your ideal customers?
Are there certain websites they frequent?
Do they attend any trade shows or conferences in Pittsburgh, PA, related to your industry?

7) When is the right time to sell my Pittsburgh, PA, business?

When selling your business, you should look for market conditions conducive to a successful sale. This includes a strong economy, high demand for your product or service, and favorable regulations.