Located in Western North Carolina, Asheville is renowned for outdoor sports, natural beauty and vibrant lifestyle. Asheville’s thriving business ecosystem and enchanting mountain setting make it an ideal place to own and eventually sell a business.
If you own a manufacturing company, product distributor or trade services business, prospective buyers may want to acquire your company. However, selling a business is a complex process that requires professional guidance, thoughtful planning and careful decision-making.
This quick guide will help you get started on the journey to selling a business in Asheville, North Carolina. You will discover the importance of working with an experienced and knowledgeable business broker, learn more about the top advisory firm serving the Asheville market and the initial steps to selling your business.
The Importance of Hiring a Business Broker
When it comes to successfully selling your business, selecting and hiring an experienced business broker is one of the most important decisions to make.
A business broker serves as a professional advisor guiding business owners through the intricacies of selling their companies. They are essential in ensuring a smooth and successful transaction, and their expertise is particularly valuable in Asheville’s competitive market.
Working with an experienced business broker increases the chances of selling your business to the best-qualified buyer at the highest possible price. Experienced brokers possess in-depth knowledge of the local market, understand the complexities of selling a business and have an extensive network of potential buyers. Plus, hiring a business broker allows you to continue running your business without feeling overwhelmed by the selling process.
Viking Mergers and Acquisitions stands out as the number one business brokerage firm in Asheville. Eric McKeehan, a lifelong resident of Western North Carolina and experienced mergers and acquisitions advisor, is skilled and experienced in representing Asheville area business owners in selling their businesses.
Eric McKeehan: A Trusted Business Broker in Asheville
Eric McKeehan is one of Asheville’s most trusted business brokers. With years of experience as a business analyst and advisor, Eric has a reputation for dedication, expertise, and integrity. Eric’s deep understanding of Asheville’s diverse business landscape makes him an asset when you decide to sell your business.
Eric’s approach to business brokerage is comprehensive, detail-oriented and client-centric. He assists business owners through the entire process, from the initial consultation to the final closing. Eric’s extensive local network and his commitment to his clients are two of the many reasons he comes highly recommended for business owners considering selling in Asheville.
Viking Mergers & Acquisitions: A Leading M&A Advisory Firm in Asheville
Viking Mergers & Acquisitions is synonymous with successful business sales in Asheville. As the leading M&A advisory firm of its type in the Southeast, Viking Mergers & Acquisitions has facilitated over eight hundred successful transactions, earning them a solid reputation and a loyal clientele.
There are many benefits of using Viking Mergers & Acquisitions. Their experienced M&A advisors provide support throughout the selling process. From conducting in-depth valuations and market research to devising effective selling strategies, the Viking team is committed to achieving the best outcome for their clients. Choosing Viking Mergers & Acquisitions to sell your business in Asheville ensures that you’re in capable and trusted hands.
5 Steps to Selling a Business in Asheville
Selling your business is a journey that requires careful planning and thoughtful execution. The following steps are critical for success.
1. Prepare Your Business for Sale
Preparation is the key to a successful business sale. This involves ensuring that your financial statements are in order, improving your business’s physical appearance, and addressing any legal issues. A well-prepared business is more likely to attract potential buyers and secure a higher selling price.
2. Value Your Business in Asheville
Determining the value of your business is the next crucial step. This is when a skilled and knowledgeable business broker performs a critical assessment of the business. Viking’s advisors and analysts perform a comprehensive business valuation at no cost and with no obligation. The valuation considers key factors such as your company’s recent and current financial performance, its position in the market and the history of similar business transactions.
3. Market and Advertise Your Business for Sale
Once your business is prepared and valued, it’s time to attract buyers. This involves marketing and advertising your business effectively in a way that maintains confidentiality. A well-executed confidential marketing strategy can significantly increase interest in the business and attract a larger pool of potential buyers.
4. Qualify Prospective Buyers
Engaging buyers while maintaining confidentiality is a challenge. Viking’s process for qualifying a prospective buyer starts with a Non-Disclosure Agreement (NDA). After executing Viking’s NDA, buyers are qualified based on their financial ability to acquire the business, career background and related business experience. Only the best-qualified buyers are provided confidential information about the business.
5. Negotiate the Sale and Close the Deal
The final steps in selling your business are negotiating the sale and closing the deal. This involves discussing terms, reviewing offers, and signing legal documents. A business broker can help negotiate a deal that meets your expectations and ensures a smooth transition.
Selling your business in Asheville, North Carolina, can be a challenging yet rewarding journey. By understanding the importance of hiring a business broker, recognizing top advisors like Eric McKeehan and Viking Mergers & Acquisitions, and following the essential steps to sell your business, you can successfully navigate this process with confidence.
You’re now ready to take the first step toward selling your business. Remember, you are not alone. The professionals at Viking Mergers and Acquisitions are available to assist you every step of the way.
Watch this video to learn more about Eric McKeehan and his client’s success story.