There are 10 to 12 times the number of buyers than there are salable businesses according to the International Business Brokers Association. With corporate downsizing continuing, more and more middle and upper management employees are getting booted out of corporate America, and while they have money, they still need a regular income.

Money to buy a business is plentiful if you know where to look, so the seller is likely to get all cash at close of escrow for their business. In order to maximize the value of your business, you need to have accurate books and records, trained and competent staff in place, and a plan for what you will do after the sale.

You need a professional business broker to get the most out of your business. Unfortunately in a market that has short supply of and high demand for a salable business, the biggest challenge you will face is finding the right professional. You need to find someone to get the job done. There are far too many business brokers who, like doctors, are practicing, and far too few who can do a proper valuation or can market your business effectively. That is why, according to the Business Brokerage Press, 92% of businesses listed for sale with a broker never sell.

Timing is not everything, but it's close. It takes time to prepare your business for sale. You need to know today's fair market value for your business. You need to make sure that you know what to do to put the WOW! factor in your business prior to listing it for sale.

Getting the right price and the right buyer are important. Selling your business takes a willing seller and buyer working together to arrive at a deal that works for both parties. In order for you to get the best possible price for your business, you must combine your perception of its value with facts about your business presented clearly and concisely, so that the buyer's perception of its value equals yours.

Your best new customers are those referred to you by your current or past customers. It's no different in selling your business. Knowing that buyers are out there, ask yourself if you think you are the best person to find the right buyer for your business, while you are busy running your business. Here are a few simple questions: Do you know how or where to find a qualified buyer? Do you want to spend the time learning how to find them? Do you want to take time away from your business to talk to people who are perpetual lookers? What information is appropriate to divulge to prospective buyers right away, and what should you not tell them about your business, and when? Once they say they want to buy your business, what do you do?

Often the inclination is to get your attorney and/or CPA involved. While they may be long trusted advocates for you and your business, neither is likely to have the skill at negotiating a buy-sell agreement. In the case of handling an important transaction such as this, you are too close to, and they are too far from your business to make a deal happen.

Before you sell, keep in mind you need to plan your route in order to make things go smoothly while the business is for sale, negotiations are in process, due diligence and escrow begin, and finally at close of escrow. Plan an exit strategy and succession plan. Most importantly, find a professional broker with a proven system who can help you make it work.

The market may be hot, hot, hot! But you need to tap into the process of selling a business the right way. Call Rick Eggleton at ProBizSeller for more information at 949-788-7775 and you'll be on your way!