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I'm thinking of selling a successful company? |
The company has 60 employees and has grown 1500% in the past 5 years - around for 30. One way is to hire a business broker. You can go to bizbuysell.com and take a look at how many of them are done in a confidential manner. Considering the growth of the company and the number of employees, you might consider an ESOP. The employees can buy the company directly from you. Many ESOP's are rather successful if they have the right employees in place. Essentially, this is often some form of owner financing. The ESOP gets a loan from a bank and a loan from you to buy the company. It's usually not the quickest transition to being "out" but it gives you some of the upside and allows the sale to remain confidential until it has already taken place. Further, your competition will know that you still have some vested interest in the business (because you won't get all of your money if the business fails). You might also get a better valuation from using this method. Get a low-profile business broker. S/he will match you up with potential buyers. Good luck! For one, I don't see what the problem is in letting your competition know. One of them could possibly buy you out ! |
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