How to Sell Your Business in Alberta

We help You Sell Your Alberta Business

So you've built your business. Now it's time to sell your Alberta business.

If you're a Alberta business owner, you may have asked yourself, "How do I sell my Alberta business?"

Selling a small business in Alberta can be a struggle.

But if you follow these steps, you will put yourself in a strong position to sell your business in Alberta.

1. Get Help Early

Selling your business in Alberta can take time.

Ideally you should start planning for the sale of your business 5 years before you actually want to sell your Alberta business.

But if you want to sell sooner, than you need to take steps to prepare your business in Alberta for sale right away.

You should plan on bringing in a business management consultant, business advisor, or Alberta business broker like Stonebridge Business Brokers to tune up your businesses finances and operations to make your Alberta business as efficient and profitable as possible.

In addition, you should speak with your accountant to discuss your plans to sell your Alberta business and examine the tax implications of a business sale so that you can take advantage of tax-planning strategies.

Also, speak with your personal financial planner to ensure that proceeds of your business sale in Alberta will realize the funds that you need to adequately fund your retirement or the next phase of your life.

2. Prepare Financial Documentation Potential buyers might want to see your financial statements, profit and loss accounts and tax returns going back at least three years.

If any assets are to be included in the sale of the business (such as any business equipment, computer hardware, etc.), list them, alongside approximate current values.

A list of your suppliers would also be helpful, along with any contracts you may have in place with them.

You should also provide details of the status of your business premises (mortgage, rental lease or ownership).

3. Get a Alberta Business Valuation

When you first start looking at how to sell a business, one of the most important steps is to get an accurate business value estimate of what it’s worth.

Speak with a Alberta business broker like Stonebridge Business Brokers to help gain a realistic idea of its value.

Stonebridge Business Brokers will evaluate all types of financial and growth metrics which can help you decide on a fair selling price.

Getting a professional business value estimate or Alberta business valuation of your business will give the selling price more credibility.

4. Find a Buyer

This is the difficult part, and where a professional Alberta business broker like Stonebridge Business Brokers can really help a Alberta business owner who hopes to sell their Alberta business.

A professional Alberta business broker will have a network of industry contacts and prospective buyers that will put your business for sale in front of active and interested buyers.

While business brokers in Calgary apply a fee for selling your Alberta business, the value of using a Calgary business broker in terms of time, energy and stress saved, not to mention getting a higher sale price will surpass any business broker fees.

5. Solidify Your Staffing

Potential buyers not only want to buy a client list and future growth potential, they also want capable staff.

Make sure your staff has contracts with clear job descriptions.

Often, entrepreneurs don’t have their team on contracts, and that can be a red flag for a buyer.

If you’re overstaffed, you may have to let some employees go before selling your business, so it’s a good idea to consult a human resources lawyer once you find a buyer.

They can help you determine who to let go and what severance to pay.

It All Takes Time

Selling a Alberta business takes time. So it's important to plan for the sale of your Alberta business early.

Getting prepared for selling a business might take a little longer than you’d hoped, but it pays to do what you can to get your business to the level so it can be sold for a high sale price.

Get Good Advice Before you Start

Now you know how to sell a business in Alberta, you should talk to your professional experts before moving forward.

Speak to the #1 rated business broker in Alberta to get the expert advice and support that you need to sell your Alberta business for maximum value.

Find Out How to Sell Your Alberta Business by speaking with the experts at:

Stonebridge Business Brokers