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Selling Your Business

selling your business picWhen you own a business , you must make many difficult decisions. One of the most difficult ones to make is if you should sell your business and when is the best time to do so. Many business owners have an arbitrary size or value they want their company to reach before they would consider selling it. While it is good to have a goal you want to reach before selling, having a random number you want to reach can also result in you missing the best opportunity for selling your company.

Below are a few pointers on how to know when it may be time to consider selling:

  • Sit down and calculate how much you need to make on the sale to live comfortably for the rest of your life (or until you begin a new career venture). It is common for people to over-estimate this number, so try to be realistic in setting this figure.
  • Figure out what your company is worth. Remember, valuing a company is not an exact science and there are a wide variety of factors that must be considered. In fact, you may want to use a professional to assist you with the valuation process.
  • It is important to understand what expenses are associated with selling your business. This includes considering the tax consequences, which again, may require you to obtain the assistance of an accountant or other professional. There may be steps you can take prior to selling your business that can help reduce your tax exposure.

The above pointers are just a few matters you should consider before selling your business. To learn more, call us to schedule an appointment.

The Swenson Law Firm is located in Sacramento County and we proudly serve businesses of all sizes from all over the State of California. Contact us today to learn more about how we can assist you with matters such as trademarks, defending lawsuits, business formation, contract negotiations, hiring employees, and protecting your intellectual property. With our years of complex business trial and litigation experience, we are an effective, efficient and affordable choice in representing you at the bargaining table and in the courtroom.

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