It’s difficult to evaluate the value of your business when a number of the company’s assets aren’t essential to operation or, worse, obsolete.
If you put yourself in the shoes of potential buyers, you can understand why they would be unwilling to pay for any asset that doesn’t contribute to the company’s profitability.
That’s why it’s important to identify and sell any outdated machinery or equipment no longer used in your business – before you put your business up for sale.
When you sell these unnecessary assets in advance, you benefit in two ways: added revenue from the items you’ve sold and a better purchase value that makes your business more attractive to buyers.
It’s also a good idea to avoid buying new expensive equipment prior to listing your business for sale.
Stay tuned for Tip #7.