M&A Business Brokers for Michigan
How To Sell a Business in Michigan
If you are thinking about whether to sell your business in Michigan? If so, you may want to consider Synergy Business Brokers. We sell companies in technology, distribution, healthcare, services, manufacturing, construction, contractors, engineering, transportation, and Education.
If you own a company in one of these industries with a net income of $200,000 to $8 Million, we offer a confidential consultation. We don't charge a fee unless we sell your business, so we'll let you know if we don't think we can meet your goals. To start the conversation, please fill out our form below. We look forward to speaking with you.
Buyers for Michigan Companies
Our database of potential buyers is filled with people looking to purchase companies in the industries we focus on throughout MI. This includes Detroit, Lansing, Grand Rapids, Troy, Farmington Hills, Lansing, Flint, Dearborn, Warren, Sterling Heights, and Anne Arbor. Detroit and Michigan are on the rise, and many potential buyers want to be part of this. Our prospective buyers, including companies in the industries that we focus on, that want to expand into Michigan and private equity groups and wealthy investors. We were established in 2002 and amassed a database of 30,000 potential buyers that we are in constant contact with regarding our new opportunities.
Motivation to Sell a Michigan Company
Most of our sellers have built up a profitable business over many years and are now ready to retire. We guide them through the process and maintain their confidentiality. We'll screen and pre-qualify potential buyers so that we only introduce the best ones to you. We don't advertise the name of your company. Buyers will sign an NDA before we release the details. This allows you to maintain your focus on running the business and keeping it profitable during the sales process.
Sales Process for MI Businesses
It typically takes 6 - 10 months to sell a company. However, it takes a couple of months in some cases, and sometimes it takes a year or more. That's why it is important to price it correctly from the start. It's OK to leave some room for negotiation, but you don't want to price yourself out of the market.
Reviewing Financial Information
To give you an idea of a potential selling price, we'll review your last three years' tax returns and a current year-to-date profit and loss statement. It's essential that the buyer can clearly see your income, so we'll want to identify any perks and benefits that you get from the business to be added to the owner's cash flow.
Marketing Campaign For Your Michigan Business
Our marketing campaign includes internet ads, social media, email marketing, our network of contacts, and more. Our job is to identify the best candidates to purchase your company. This is typically a company that can leverage what you have to take it to the next level. It is important to keep an open mind, though, because you're never sure who will make the best offer. We'll negotiate the terms with you and form a collaborative relationship to maximize your company's value.
Why Should I Sell My Michigan Business?
There are a lot of reasons you should sell your Michigan business. Some say you should sell when the market is good. Other business owners say you shouldn’t sell your business until you’re ready to retire. There are a variety of reasons to sell your business. All of those reasons are personal to you. Whether you are looking for a life change, ready for retirement, or simply this is the most effective time to sell your business, you should sell your business effectively. Selling your business on your own is unwise. You have invested so much of your life and time into selling your business; make sure you sell it for what it is worth.
How Much Should I Sell My Michigan Business For?
You should sell your Michigan business for its full worth. What is the value of Michigan business? At Synergy Business Brokers, we can help determine the value of your business. This is one of the first steps to effectively selling a Michigan business. Knowing the value and worth can only be determined by a business valuation. A business valuation is performed on your business and looks at the overall yearly income, assets, expenses, and other factors. Before trying to sell your business, you need to know what you are selling. That is why so many business owners contact us to sell their business. We know how to sell your business effectively to qualified buyers and for the correct worth of your business.
Is My Michigan Business Ready To Sell?
While there is never a perfect time to sell your business, we can help answer questions on whether your business is ready to sell as well as helping you navigate certain items that should be completed before the sale of your business.
Where Should I Sell My Michigan Business?
Many local business brokers will only try to sell your business within Michigan. While this can be effective for some businesses, we have qualified buyers locally, nationally, and internationally. When we help you sell your company in Michigan, we will work with you to determine the best buyer, whether they be a competitor located in Michigan or an international company.
Will I Have To Pay A Tax When I Sell My Michigan Business?
Taxes are typically placed on the profits of your business sale. Paying taxes for the sale of your Michigan business should be considered if you are retiring or looking to use your profits to start a new venture. Knowing the end profits of your business sale can be determined before the sales process begins. This can help you plan for the future.
Can My Michigan Business Survive Without Me?
This is one of the most common questions business owners asked us. Is it even possible to sell my business? I play such an integral role within my business, can a buyer be found that is qualified? We have worked with many businesses through their process of a sale. We have some business owners that remain working at the business they started for a time frame. Some business owners remain part-time employees, helping their legacy continue growing and developing well into the future. At Synergy Business Brokers, we do not approach selling your business the way a real estate agent approaches selling a house. We take a hands-on approach that will help to lead to the success of your business and all parties involved with the sale of your Michigan company.