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I am needing some advise as to how to market and sell a small business in a rural community. I want to continu

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Answers (1)
William A. Price
Business Lawyer
DuPage County, IL

If you can continue as a salesperson for the business, and there are some profits to be made in your business, then you should be able to advertise on national and local business broker listings and local and regional business sections of newspapers to find potential acquirers. Sale price will probably be 3-5 times annual profits (NOT gross sales) at best, and you may need to provide 3-5 year earn-out terms so you get paid from the future profits the buyer is seeking when they invest in purchase of your venture.

Note that if you have employees, there may be one or more of them that you could "disciple" to be familiar with the business, and sufficiently capable after a couple of years to be the buyer you need. A buy-sell agreement of this type could give you higher earnings multiples than outside sales as a guaranteed price for your share of the enterprise.

Hope this helps,

Bill Price

Mar 26, 2013