How to sell my business/business idea?
I started a business where I make my own homemade bath products, all organic, great recipes and have the logo, had the website, everything. I even sold a few at a trade show. But then I stopped because I couldn't spend anymore money and didn't have the time to make the products on the spot. My products were awesome and the business was legit and I think people would buy them if the right company got the name out and could produce more of my products. How can I sell my business/business idea (plus recipes etc) and make a good profit? Do I need a business broker? I'm no professional keep in mind, but this was real.
- Anonymous10 years agoFavorite Answer
There is a difference between what the assets of a business are worth and what an operating business is worth (called "a going concern"). An operating business can be worth more than the value of its assets if a business has been profitable and a brand has been established. This value over and above the value of the assets is called goodwill.
If a business has not been profitable or has had losses and a brand has not been established, it is not worth more than the value of the assets it owns. These asset values are at current market value not what was paid for them.
It's difficult to tell in your particular situation but it doesn't sound like you had much in profit. Unless you were able to establish a well known and liked brand, your business is probably worth asset value. Your soap recipes would be an asset but they would be difficult to value.
Talking to a business broker can certainly give you further insight into your situation.
- 10 years ago
Well, posting the business, its financial information online, on lets say craigslist or ebay is advisable, atleast thats what i did when i sold my landscaping company, however if your company is small and does not have finanical info, employees, or equipment.etc. Then i'd assume your just selling the idea? Which is alot harder than selling an actual business. You would have to contact an expert, i am utterly clueless on that.
- 7 years ago
Hi Lilmisslondon, it is possible to achieve success in selling your business without having a great sales personality. Learn how to make great sales by reading through the list below link for some of the most common sales mistakes, and the ways in which these mistakes can be avoided.
I hope this will help you decide and bring some ideas.Source(s): http://forsaleforlease.com.au/business