Own a professional service company? Are you thinking about selling in the near future? The service industry is huge. It’s diverse and spreads across countless industries. It’s home to many unique business types. From SMBs, to sole proprietorships, incorporated partnerships, and online businesses, there are many business types. Regardless of your business type or industry, if you are thinking about selling your company, you need to take a smart approach. Like many business owners, you’ve probably thought about the merits of using a business broker and compared it to attempting to sell your company yourself.
Business brokers provide you with a competitive advantage when selling. They are experts at valuations and helping companies sell quickly and for top dollar. At Beacon, our expert business broker team will help you will all aspects of the sales process – from assessment to valuation, setting a sales price, marketing, buyer management, negotiations, and closing the deal. Leverage us so you can focus on running your business. We’ll worry about helping you sell your professional service company for the best price.
How to Properly Valuate Your Professional Service Company
An accurate valuation is a foundational part of your strategy to sell your professional service company. It can be challenging for business owners to come up with a proper valuation for their company. How much you think your company is worth and what it is really worth to buyers is a common debate among business owners.
Business valuations provide you with an accurate and realistic selling price for your professional services company. It will help attract the right type of buyers and help you sell more efficiently. Business valuations also take a lot of work and involve a number of important steps. Here are some of the key considerations when setting a value for your company:
- Organize your financial statements and accounting: Getting your financials in order is an absolute must do first step for an accurate valuation.
- Consider all assets: Figure out the asset value for your company. Take inventory, and make sure you account for all your intangible assets such as contracts and partnerships.
- Assess other similar companies: Study your industry. Make note of the selling price and value of other similar professional service companies in your industry and region.
- Look for opportunities to increase value: There are many ways you can build the value of your company before you sell. Assess your financials, document your successes, show growth potential, and explore other opportunities.
- Use a broker to get a formal business valuation: A business broker can help you with all steps involved in an accurate business valuation.
Use a Business Broker to Simplify the Process of Selling Your Professional Service Company
The process of selling a company can be long and painstaking if you choose the wrong approach. There are countless potential challenges and issues that could arise. Are you prepared to manage them? Do you have the expert knowledge needed to run your business and sell it at the same time? Most business owners don’t. Business brokers are a valuable asset for professional service organizations looking to sell.
At Beacon, our business brokers will consult you on all steps required in the sale of your company, including but not limited to:
- Business assessment
- Buyer screening
- Marketing and sales strategy
- Due diligence
- Closing the deal
Our sales and transaction advisory services allow you to focus on running your company while we take care of the sales process for your professional service company. We take a collaborative approach and work closely with you to help you achieve your sales objectives. We know you want top dollar. Take peace of mind in knowing you took the proper steps to get your company in the best position to sell before listing it on the market.
Sell Your Professional Service Company with Beacon
If you are thinking about selling your professional service company, then we want to speak with you about how we can help. At Beacon, we can help you best position your company before you sell to get maximum value. We know the selling process can be challenging. Our expert business brokers can help you with all steps in the process and ease the transition out of business ownership.
We’ve helped many small- to medium-sized businesses get top dollar for their company. Be our next success story! Contact us to start the process of selling your professional service business.