I'm thinking of selling a successful company?

Question

The company has 60 employees and has grown 1500% in the past 5 years - around for 30.

What can I do to sell without letting the competition know? How do I advertise it? No one believes I would want to sell something so successful, but I want to be more free of the stress and spend more time with my very little kids. I just need someone that wants a good investment but I have no idea where to look.

Answer 1

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.

Answer 2

For one, I don't see what the problem is in letting your competition know. One of them could possibly buy you out !

You haven't said what is the business your company is in , so it all depends. With many industries there are consultancy companies that you can hire to locate suitable buyers for you while keeping your company name private.

If you feel that you could do without all the secrecy then its relatively easy , as you put in an ad in relevant trade journals , business newspapers and even trade web sites.

Answer 3

Get a low-profile business broker. S/he will match you up with potential buyers. Good luck!