May 10, 2016

How to prepare to sell a business in New Jersey

By Achim Neumann

If the time has come to sell a business in NJ, there are a number of tasks that should be conducted before just opting to drop it in the classifieds, or with a business broker in Somerset County, NJ.
The following steps will ensure that the sales process proceeds in a smooth and expeditious fashion…

Tidy up the property and the books

When getting a business valuation in Mercer County, NJ, it is important not only to ensure that the physical premises looks clean and neat, but that the paperwork for the business is in order.

Apart from passing the broom and putting a fresh coat of paint on the interior and exterior walls, the business owner also needs to go through the books line by line to make sure that the financials can be easily understood by those looking to buy a business in NJ.

Job responsibilities need to be outlined as well so that any potential suitor can walk in and run the business with almost the same ease as turning a key.

By taking care of these responsibilities in a proactive manner, the business seller can increase the appraisal of their company.

Draft a sales strategy

Once the business is in sale-ready shape, contact a business broker in Mercer County, NJ and begin to plan out a sales strategy together.

These professionals will counsel sellers on how to market their business towards buyers that would be interested in purchasing the type of company they have to offer.

Generally speaking, look for buyers that are looking for a business that has an established system, as these players are often willing to pay top dollar for companies that possess this attribute.

Get an idea of what valuations are available in a given niche

Once a game plan has been written up, the last thing left to do before courting business buyers is to figure out how much money can be secured for a business.

A lot of this will have to do with the field in which the company in question is situated, but location plays a role as well.

For example, a business valuation in Somerset County, NJ will yield a different number than if one were to attempt to sell their company in Camden County.

Beyond this variable, physical attributes such as inventory levels will play a significant role in how much a business can fetch, but the biggest numbers to focus on have to do with profit, revenue, and cash flow.

Once it is clear to a business broker in Somerset County, NJ what these numbers are, the business owner will be able to get a clear cut answer of what dollar figure they can expect to get in exchange for their enterprise.

About A Neumann & Associates, LLC

A Neumann & Associates, LLC is a professional mergers & acquisitions and business brokerage firm having assisted business owners and buyers in the business valuation and business transfer process through its affiliations for the past 30 years. With an A+ Better Business Bureau rating, the company has senior trusted professionals with a deep knowledge based in multiple field offices along the East Coast and has performed hundreds of business valuations in its history. The firm’s competitive transaction fees are based on successfully completing transactions. For more information, please contact A Neumann & Associates at 732-872-6777 or info@neumannassociates.com

Client Testimonials

“I’m a Financial Advisor and have referred several of my business owner clients to Gary Herviou to help them sell their businesses. Each client’s experience working with Gary has been outstanding, giving me complete confidence to continue referring others in the future. Gary is a true professional who understands all the intricacies involved in buying or selling a business. I would never recommend that a client sell a business without having a representative like Neumann & Associates on their side.”

Chad White

“I'm an attorney. I have represented the buyers and sellers of businesses for 20+ years. Recently I had the pleasure of handling a transaction where Richard Wilder of A. Neumann & Associates was the broker for the seller. Mr. Wilder was of great service to his client. He is very knowledgeable and organized. Thanks to his guidance the transaction proceeded smoothly and closed on time. He is highly recommended.”

Nick Ferrante

“Richard, you came to my office a few years ago and were wonderful in explaining your process and procedures. Our company is probably an anomaly in that we sold the majority to two long time employees and I financed them both. Our company is entering its 45th year and is still thriving. The purpose of the note is to thank you very much for the service that you provide. Thank you again.”

John Foug, Seller

“We had a great experience working with Richard Wilder from Neumann and Associates as the sell-side broker for Blade Runners. He was knowledgeable, professional, and clearly had his client’s best interests at heart. Richard helped keep the process smooth for everyone, and thanks in part to his efforts, we found a fantastic owner to partner with. We'd gladly work with Richard and the Neumann and Associates team again.”

Justin Martin

“Very happy with Richard and the entire process. I was on the buyer side of the transaction.”

Isaac Palmer, Jr.

“If you are looking for a professional and informative company that meets your needs, A Neumann & Associates is the company to go with. Ted Kantor went above and beyond to make our experience as easy as possible. Ted was helpful from the start of our process to the end. He was there every step of the way to guide us and answer all of our questions. He handled all of the in-depth communication and followed up on every detail. We strongly recommend Ted Kantor to help you whether you're buying or selling. It was a great experience. We never imagined it would go as smooth as it did. The Laluna's (Andy, Maria & Tony Jr)”

Maria Laluna

“A Pleasure to work with - I highly recommend them! Working with Richard Wilder was a pleasure, and he found us the perfect match.”

Laura Keith-Macario

“This spring we acquired a business that was represented by Richard Wilder at A Neumann & Associates. Small business acquisitions can be very emotional for the sellers and life-changing for the buyers, and Richard was keenly aware of this throughout the process. Although he was working for the sellers and not for us, he knew that most business owners see their business as their baby so the only way to have a happy outcome for his clients was to also have a happy outcome for the buyers. Knowing how nerve-wracking this process can be (think home buying x 10), he never dropped the ball on keeping everyone updated, anticipating potential snags, and guiding us along in the process. We highly recommend Richard.”

Shannon, Buyer

“My business was my baby for over 40 years. It is a tough and cruel world out there when it comes to selling your business. Neuman and Associates provided the professional guidance/protection to get the job done with care and no pressure. In my view a tremendous value. I would recommend them to anyone seeking to sell their business. Eric Storck, president of Blade Runners Inc.”

Eric Storck, President - Blade Runners Inc.

“I’m really impressed with how your firm operates. The focus on confidentiality, the thorough vetting process, and the use of third-party accredited valuations really stand out. It’s easy to see why you’ve built such a strong reputation over the years.”

Ann M., Investor

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Contact A Neumann & Associates, LLC

If you are considering selling your business, please contact us to learn more about our comprehensive service spectrum. Our experienced professionals will answer all your questions about selling a privately held business in complete confidentiality. Please fill out our contact form, or call us at 732-872-6777. We will contact you directly and will never identify ourselves to your employees.

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