Selling Your Home Business
Sometimes, after you’ve built your home based business to a profitable level, you have the opportunity to sell it. You may or may not want to do this, yet if you receive an offer, it means you’ve been successful in the direction you’ve taken your enterprise.
Below are some factors to consider:
1. Do you want to sell?
2. What price should you ask? Or is the offered price fair? You may have to consult a business advisor, your accountant, an attorney, or financial planner about this.
3. Look at any outstanding debts and make sure you get enough to cover them as well as a profit for yourself.
4. Will you have to sign a “non compete” clause? This frequently is the case and generally fair to the person purchasing your business.
5. What will you do if you sell? Do you have another business idea?
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