I been thinking about selling my company that nets about $20,000+ per month. With hundreds of thousands of posts to dig through on the forum I wanted to see if anyone could point me in the right direction of some good posts on selling a company.
To put things into perspective: My business is about 3 years old. I grew slowly and steadily. I was my first staff member and once I had enough work to keep me occupied I took the last $2,000 I had to my name and hired another staff member. The work kept coming. So I scaled appropriately and hired more people. For the last 12 months I have steadily netted a minimum of $20,000+ and even sometimes $30,000+ per month. I now have 7 full-time employees. I'm my only sales person and I run the entire team by myself. Since May 2011, I have had about 650 clients and sent over 1,700 invoices. Many of those customers come back time and time again.
I've recently decided that an exit from my company would be nice. While I make good money (in my opinion) I spend far too much time working and managing things. I would love a large cash injection I can invest back into another business of mine, which is steadily netting about $10,000 per month and has been for the passed year+. Again I am growing it slowly but steadily.
The business I want to sell doesn't have a typical office location. Although ideally, it would. All of my staff work remotely from their homes. Is that a deal breaker for someone looking to buy a company? I am thinking of selling to a competitor for the right amount or one of the larger companies in the same industry. But I've never done this before so I'm just hoping someone would be nice enough to point me in the right direction.
Anyone care to discuss? Thanks!
To put things into perspective: My business is about 3 years old. I grew slowly and steadily. I was my first staff member and once I had enough work to keep me occupied I took the last $2,000 I had to my name and hired another staff member. The work kept coming. So I scaled appropriately and hired more people. For the last 12 months I have steadily netted a minimum of $20,000+ and even sometimes $30,000+ per month. I now have 7 full-time employees. I'm my only sales person and I run the entire team by myself. Since May 2011, I have had about 650 clients and sent over 1,700 invoices. Many of those customers come back time and time again.
I've recently decided that an exit from my company would be nice. While I make good money (in my opinion) I spend far too much time working and managing things. I would love a large cash injection I can invest back into another business of mine, which is steadily netting about $10,000 per month and has been for the passed year+. Again I am growing it slowly but steadily.
The business I want to sell doesn't have a typical office location. Although ideally, it would. All of my staff work remotely from their homes. Is that a deal breaker for someone looking to buy a company? I am thinking of selling to a competitor for the right amount or one of the larger companies in the same industry. But I've never done this before so I'm just hoping someone would be nice enough to point me in the right direction.
Anyone care to discuss? Thanks!
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