Ready to Retire? 4 Things to Do Before You Sell Your Business

Building a successful business is a lifetime achievement. If retirement is on the horizon, selling your business may be the biggest financial decision you’ll ever make. But here’s the hard truth: according to BizBuySell, 80% of businesses listed never sell. Even those that do often close at lower-than-expected prices.

If you’ve worked decades to build your company, you deserve a rewarding retirement, not missed opportunities. The good news? With the right preparation and the right broker, you can sell for maximum value.

Here are the 4 most important steps to take before you sell your business and retire.

1. Get Your Financials in Order

Buyers want clarity and confidence. If your financials are messy, your value takes a hit.

Gather 3–5 years of complete financial statements (P&L, balance sheets, cash flow).

Make sure tax returns align with those records.

Clean up unnecessary expenses or “personal perks” that don’t contribute to profitability.

Pro tip: Have a CPA or independent accountant review your numbers. Organized, transparent financials almost always lead to higher offers.

2. Streamline Your Operations

A premium sale doesn’t come from revenue alone, it comes from efficiency. Buyers want a company that runs smoothly without relying too heavily on the owner.

Cross-train employees and resolve performance gaps.

Document systems, processes, and vendor agreements.

Update equipment and technology to show stability, not future headaches.

A business that runs like clockwork is worth more and easier for a new owner to step into.

3. Plan for a Seamless Transition

Retirement doesn’t mean walking away the day after the sale. Buyers want assurance the handoff will be smooth.

Prepare documentation for daily operations, customer relationships, and vendor contacts.

Be willing to provide short-term training or consulting after the sale.

Plan how and when you’ll inform employees and customers about the transition.

The stronger your transition plan, the more attractive (and valuable) your business becomes.

4. Choose the Right Broker

This is the step that makes everything else work. Selling a business isn’t like selling a house, it’s complex, emotional, and high-stakes.

The right broker will:

• Value your business accurately for today’s market.

• Protect confidentiality and screen serious buyers.

• Negotiate on your behalf to secure the best deal.

• Coordinate with attorneys, accountants, and advisors so you don’t have to.

Bottom line: A trusted broker ensures your lifetime of work pays off with the retirement you’ve earned.

Retirement should be a reward, not a risk. By preparing your financials, streamlining operations, planning for transition, and working with the right broker, you’ll position yourself to sell at a premium and retire with peace of mind.