When you decide to sell your business, the first step is for you to determine what the business is worth to a prospective buyer.  In this effort, you must consider the overall marketability of the business, how it might fare without your unique skills, the value of tangible assets, environmental and economic conditions, and a multitude of other considerations.

The answers to these questions may seem relatively simple; a logical conclusion may easy to reach. Placing a dollar value on a business is as much an art as it is a science, even for experienced professionals. The history and statistics of the business must be examined objectively in an effort to determine a subjective value. No matter who does a valuation on your business, it is, at best, an educated guess.  Only the market can determine the actual cash value of a business.  Despite the complexity inherent this process, there are a few general guidelines that can be of help to the business seller:
Recognize that the prospective buyer will see your business from a totally different perspective. Many business owners have an emotional attachment to their businesses that will be of little interest and will have no monetary value to a prospective buyer.

Don't be overly concerned if the first offer is far from your asking price. This is normal. It is in this part of the process that a skilled intermediary can help to arrive at a figure and help to structure a deal that is satisfactory to both buyer and seller.

Once a mutually acceptable valuation is reached, the process has only begun. Both buyer and seller are likely to have considerations and terms that require further negotiation. Once again, a skilled intermediary can smooth this potentially bumpy road.

Have your presentation materials ready. You will be expected to furnish complete statistical, financial and operating information relevant to the business once a serious prospect has been introduced.