- 1). Assess the value of your business. Since it is a new business, this step may be somewhat challenging. You will rely mostly on two things: the current value of any assets and projected earnings. The current value of your assets is the combined total of anything that is currently invested in the business; merchandise, the website (or whatever you paid to create it) and software programs are some examples. Projecting earnings is a little trickier. Speak to owners of similar businesses who have been doing it longer, and research other businesses. If you have a model built in for attracting customers and sales, you can insert it into your calculations to increase the projected value.
- 2). Understand the true profit potential of your business. A new business is all about potential. If you can market that, you may be able to make a good sale.
- 3). Make sure that all details have been worked out. Selling a business that doesn't yet have an email system or a security certificate may be possible, but you will only get the value of what you have set up. If you attend to all the minor details and have everything in proper order, the business may be worth much more.
- 4). Create an effective marketing pitch. Many buyers may be concerned about purchasing a business with no bottom line. One effective angle is to pitch high-growth potential. You can also try to turn your drawback into an asset: Because the business is so new, the buyer has the opportunity to turn the business into anything he wants. The infrastructure already exists, and he can take it and go.
- 5). Find the right buyer. Use any contacts you have to scout out potential buyers. Check out website business markets such as bizbuysell.com and place ads in your local classifieds, either online or in print.
Source...