Boopos FacebookBoopos TwitterBoopos LinkedInBoopos WhatsApp
August 8, 2023

How To Sell A Business Quickly: 5 Steps To Selling Fast

Are you tired of working for someone else and want to take control of your career? Starting your own business and becoming your own boss can be a fulfilling and rewarding experience.

How To Sell A Business Quickly: 5 Steps To Selling Fast

Many business owners ask themselves the question “How do I sell my business fast?” If you’re a business owner trying to figure out how to sell a business quickly, a pre-approved business loan is an easy solution. Getting pre-qualified for a loan is one option that could give you the boost you need to sell your business fast. For this blog post, we teamed up with our broker partner, acquire.com to discuss how to sell your business fast with a pre-qualify business loan.

Why a seller should get a deal pre-qualified

If you’re hoping to sell your business fast, getting a deal prequalified for a business loan can significantly increase your ability to sell your business. This is because it gives potential buyers confidence that the business meets their requirements and that due diligence will not uncover any major issues. Prequalifying a deal allows for more efficient management of the sale process, streamlining negotiations and timelines. The information required to pre-qualify can also be used to send the buyers.

Most business buyers are savvy and want to maximize their financial gains, which is why they often seek out the highest possible seller note when making a purchase. Having financing in place helps reduce the amount of seller note required, allowing buyers to reduce their total financial commitment and increase their liquidity.

Getting pre-qualified for a business deal can be a great way for buyers to protect their interests, as it ensures that they will have the necessary funds to close the transaction and provides peace of mind that the purchase is secure. An added perk of pre-qualifying your deal with Boopos allows you access to our pool of buyers along with getting a third-party valuation on your business.

Worrying about capital for the buyer positions you as a more serious and reliable seller since it shows that you are taking all the necessary steps to ensure their financial security. This can go beyond just offering competitive terms and prices; it also demonstrates that you have done your due diligence in researching their creditworthiness and ability to pay.

If you’re worried about the size of your business when you apply for a loan, you should know that the methods for how to sell a small business quickly are the same for larger businesses. Pre-qualified business loans are a viable option for businesses of all sizes.

How to sell your business with a pre-qualified business loan

Getting a pre-qualified business loan sounds nice, but what about actually selling your business? Here are the steps you need to take to be able to sell your business quickly.

1. Find out the value of your business

Determining the value of your business will help inform the selling price of your business. A third-party business valuation service will provide you with an objective estimate of your business’s monetary value.

2. Get your books in order

Bookkeeping can be a pain, but it’s a necessary evil of keeping your finances in order. Get your financial paperwork together, including tax documents, sales records, and inventory reports. This will help you present a holistic view of your business’s financial health to potential buyers. This will also help you decide if now is the best time to sell your business. It’s best to sell when your sales are up to maximize your profits.

3. Plan out your exit strategy

Many business owners don’t plan their exit from their industry. Health complications, an unwilling business partner, or uninterest successors are all problems that can be avoided. Before it’s time to sell your business, think about what your options are in the invent you’d like to move on from your current business venture. Once your plans are finalized, be sure to put them in writing so that you can access this information when it’s time to sell.

4. Pre-qualify for a loan

Getting pre-qualified for a loan from a traditional financial institution can be a tedious, difficult process. Luckily, Boopos is a lending platform that thinks outside of the box. Here’s how to pre-qualify for a loan with Boopos in six easy steps:

  1. Go to our website and click on “get qualified”
  2. Create an account with your business email, or an existing Gmail, Apple, or LinkedIn account
  3. Go to the toolbar on the left side of the screen and click “portfolio”
  4. Click on the “add business” button in the right-hand corner of the screen
  5. Upload the information about your business in the prompted sections
  6. You are all set!

5. Find a broker

You know your business inside and out, but you may not be an expert on the business market. A broker will be able to guide you through the process of selling your business and connecting you with the right buyers.

At Boopos we focus on financing SaaS and e-commerce business acquisitions and pride ourselves on working in close partnership with buyers to find and finance the best target companies for their specific needs. If you’re looking to buy or sell a business, contact us today to find out what your financing options are.

Resources vector
Resources vector
Resources vector
Resources vector
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.