Is your business a marketable asset?
Your Business Stage
Your business is valuable to you, but is it a marketable asset? Not necessarily. According to John Warrillow, author of Built to Sell: Turn your business into one you can sell, only 1% of businesses in Canada are sellable.
If you’re thinking about selling your business, ask yourself these three questions:
1. Is your business teachable? Think about processes that you can train others to deliver as well as you do yourself.
2. Is your business valuable? A buyer will want to know that your business is profitable, has growth potential, and has many loyal customers.
3. Is your business repeatable? Your business will be worth more if you show buyers they can build a future stream of income through expanding.
What steps are you taking to make your business more marketable to buyers?