Businesses that are the most transferable, that get the most offers, and go for the best price, are those that have the “Three P’s.”
The Three P’s are people, profits and process:
• The first “p” is for people: You need employees to sell.
• The second “p” is for profits: You need to be earning $50K or more.
• The last “p” is for process: Buyers value systems, manuals and contact lists to touch clients.
A business with the Three P’s is one that is transferable and highly valued in the seller’s market that we’re currently enjoying. Does your business have them?