When You're Ready to Sell the Business

For a number of small business owners who may be ready to sell their companies, the past few years have been a time to cut unnecessary expenses, make ends meet and to patiently wait for the market to rebound. There simply was no use in trying to sell the business when company revenues and profits were down. Low purchase-price valuations only made matters worse.

But 2010 saw a slight improvement in the business-for-sale market and many experts expect that 2011 will be a turning point for the industry. Financing options are improving for buyers and banks are putting a new focus on lending.

So, if you're thinking of selling your business this year, here are four tips to maximize your profit.

How to Build Your Business to Attract Buyers

When Loren Bendele started online coupon company Savings.com in 2007, he wondered why traditional paper coupon companies didn't have more of an internet presence. It was a simple idea that filled a niche in an established market.

While his marketing plan initially was designed to attract customers, it also was meant to gain the attention of prospective acquirers--and it did. In June 2012 Bendele sold Savings.com to Cox Target Media, parent company of Valpak, for a reported $100 million.

"We always thought the traditional coupon players would be looking for ways to migrate their business," Bendele explains. So he intentionally built his company to sell.