10 Questions to Ask Before You Sell Your Business

How to Prepare for a Profitable Exit with No Regrets Selling your business is one of the biggest financial and emotional decisions you’ll ever make. For most owners, it only happens once — so there’s no room for guesswork.

At The Firm, we’ve worked with business owners throughout the Coachella Valley and Southern California who are considering a sale. And we’ve found that those who ask the right questions early almost always have smoother, more profitable exits.

Whether you're planning to sell in six months or just starting to explore your options, these 10 questions will help you get clear, get ready, and move forward with confidence.

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   1. Why do I want to sell?

   This may sound obvious, but your motivation shapes the entire process.

   Are you:

   • Ready to retire?

   • Burned out?

   • Pursuing a new opportunity?

   • Responding to a life event?

   • Preparing for a market shift?
     

   Your “why” affects how the business is positioned, the timeline you need, and how flexible you’ll be in negotiations. The clearer you are on your goals, the easier it is to structure the right deal. 2. What is my business really worth?

   Many owners either overestimate or underestimate their business’s value. The only way to know is through a proper valuation.

   A business broker or valuation expert will look at:

   • Your cash flow (SDE or EBITDA)

   • Three years of financials

   • Add-backs and owner perks

   • Industry comps and deal structures
     

   This isn’t just about setting a price — it’s about setting expectations.

   
   
   
   

   3. Is my business ready to sell?

   Buyers want to see clean books, transferable systems, and minimal risk. Ask yourself:

   • Are the financials up to date and accurate?

   • Is the business dependent on me personally?

   • Are there written processes and trained staff in place?
     

   If not, it might be worth spending 3–6 months prepping for sale before going to market.

   
   
   
   

   4. Who is the ideal buyer for my business?

   Not all buyers are the same. Some are:

   • First-time owners looking for a lifestyle business

   • Strategic buyers expanding into new markets

   • Private investors or equity groups
     

   Knowing who you want to attract helps shape your marketing, price point, and deal structure.

   
   
   
   

   5. Can my business be financed?

   Most buyers use SBA loans or seller financing to acquire a business. That means your business must:

   • Show consistent, verifiable cash flow

   • Be able to cover debt service

   • Be structured in a way lenders can understand
     

   If your numbers are unclear or too many expenses are off-books, it could make financing — and therefore selling — much harder.

   
   
   
   

   6. Do I have a plan for life after the sale?

   This isn’t just about the money — it’s about your identity and purpose.

   Ask yourself:

   • What will I do next?

   • How will I fill my time?

   • Do I want to stay involved in any way?
     

   Having a post-sale plan can reduce stress, improve your mindset during negotiations, and make the entire process more meaningful.

   
   
   
   

   7. Am I emotionally ready to let go?

   This one is often overlooked — but it matters.

   Even if you’re burned out, there may be a part of you that struggles with:

   • Handing over control

   • Watching someone else run your business differently

   • Saying goodbye to your team, clients, or legacy
     

   Acknowledging this upfront helps you approach the sale with clarity instead of second-guessing every step.

   
   
   
   

   8. What’s the timeline I’m working with?

   Urgency shapes strategy. Are you trying to:

   • Exit in 30 days?

   • Sell by year-end?

   • Start the process now and exit next year?
     

   While some businesses sell quickly, others can take 6–12 months depending on price, complexity, and market demand. Being realistic about timing helps avoid pressure and mistakes.

   
   
   
   

   9. Who do I need on my team?

   A successful sale often includes:

   • A business broker (to manage valuation, marketing, and buyers)

   • A CPA (for tax planning and due diligence)

   • An attorney (to review contracts and protect your interests)

   • A financial advisor (to plan for your next chapter)
     

   Trying to go it alone may save money upfront — but often costs more in the long run through lower valuations, legal risk, or failed deals.

   
   
   
   

   10. Am I working with the right broker?

   Not all brokers are created equal. Look for someone who:

   • Understands your industry and local market (especially if you're in a niche market like the Coachella Valley)

   • Has a process, not just a listing service

   • Prioritizes confidentiality and clear communication

   • Has strong buyer networks and financing contacts

   • Works with integrity and puts your goals first
     

   Selling your business isn’t just a transaction — it’s a transition. And you want someone by your side who knows how to guide that process the right way.

   
   
   
   

   Final Thoughts: Ask Better Questions, Get Better Outcomes

   Selling your business is more than just listing it online and waiting for an offer. It’s a strategic, emotional, and financial journey that deserves real preparation and expert support.
   

   By asking these 10 questions upfront, you give yourself the power to:

   • Avoid mistakes

   • Set the right expectations

   • Attract the right buyers

   • Maximize the value of what you’ve built
     

   At The Firm, we help business owners throughout the Coachella Valley navigate this process with clarity, confidentiality, and confidence — from the very first question to the final handshake.

   
   
   
   

   Thinking of Selling?
   

   If you’re ready to explore your options — or just want an honest answer to “What’s my business worth?” — we’re here to help.
   

   📩 Reach out today for a no-obligation, confidential consultation