Surrey’s diverse economy made up of advanced manufacturing businesses, technology companies, health clinics, educational establishments, and a strong agricultural sector, make the city increasingly appealing to entrepreneurs. If you’re interested in buying or selling a business in Surrey, BC, find tips to close a successful deal below.
4 Questions to Ask Yourself When Selling a Business in Surrey, BC
Before you list your business for sale in Surrey, BC, ask yourself the following questions to prepare yourself– and your business– for the sales process.
When will I exit my business?
First, determine when you’d like to sell your business. By setting a “sell by date,” you can create a strict timeline for things like preparing the business for sale, valuing the business, finding a brokerage service, and listing the business for sale.
Who will buy my business?
Next, consider who will buy your business. Do you have any employees or family members that might be interested in taking over the business? Are there any competitors that might like to acquire or merge with your company? If not, you may need to find an independent buyer.
How much is my company worth?
Because business owners usually have emotional ties to their businesses, it’s usually recommended that you get a third-party valuation firm to perform the valuation of your business. With an unbiased opinion of value, you can select an asking price and defend that asking price to interested buyers.
How will I list my business for sale?
Listing a business for sale in Surrey, BC is easier said than done. Getting your business listings in front of the right people while maintaining confidentiality can be difficult. To ease the stress of marketing your business listing and save you time that could be spent on day-to-day operations, consider hiring a business broker or M&A advisor. A professional broker or advisor will have a large network of potential buyers in Surrey, BC that may be interested in buying your business!
3 Factors to Consider When Buying a Business in Surrey, BC
If you’re considering buying a business in Surrey, BC, consider the follow three factors before browsing businesses for sale.
You may have heard the popular saying, “If you love what you’re doing, you’ll never work a day in your life.” Here at Pacific M&A and Business Brokers Ltd., we believe that saying holds some truth. Before you begin browsing businesses for sale in Surrey, BC, consider your passions and your skillsets. Are there any opportunities that would allow you to turn your passion into an income?
Location, Location, Location
Few things are worse than sitting in traffic at the end of a long day at work. With that said, the closer you live to work, the happier you’re going to be. Keep location in mind when you begin your search for a business.
Finally, determine how much you can– and are willing to– spend on a business in Surrey. There are countless opportunities at various price points. Stick to your budget to avoid financial stress or getting your hopes up for a business out of your price range.
Find an Experienced Broker or M&A Advisor in Surrey, BC
For more information on businesses for sale in Surrey, BC, and for guidance buying or selling a business in Surrey, BC, contact Pacific M&A and Business Brokers Ltd. Our executive business brokers and M&A advisors in Surrey, BC have years of experience matching business owners and interested buyers. Our knowledge of the Surrey, BC market is unmatched by other brokerage firms in the area.