• Time to sell the business – From the moment the business was established, you should already be planning for an exit strategy. It’s best to have your business be ready for selling anytime and not when it’s badly needed.
• Status of the business – Before putting it on sale, you must have to make sure that it’s attractive enough to be sold. Allot 1-2 years to put your business in its best shape. Your company must be generating income, having a positive cash flow, and still, have a great potential to expand in the future. Once it is already on sale, prepare the needed data like tax history and other financials dated three years back. Settle debts if there are any. And it’s also best to give it an overhaul if needed (i.e.  store renovation, equipment repair)
• Staff Performance – The employees will be the front men of the company. They will create an impression on the buyer during the due diligence process. Make sure that they will still be appreciated so that they will still be productive after the turn-over and that the acquisition won’t affect them so much emotionally.
• Business Valuation – How will you know that the price is reasonable? Take time to assess the market, observe the economic trends and the performance of the business in the same field. These factors are some of the ones to be considered in determining the value of the business, aside from the annual income being generated.
• Relevant documents – Equip yourself with accurate financial documents, along with other important forms that the buyer might ask from you.
• Sellers of your business – Form a team of professionals who’ll be able to assist you all throughout the selling process. Business brokers, accountants, and lawyers are the right persons to seek help from when it comes to examining the documents, appraising the business, and negotiating until the deal is done.
• Salesmanship – Be honest about the strengths and weaknesses of your business. You must be able to be transparent enough to be a buyer to show your track record and to let him/her know why you’re putting it on sale. Have that tone of confidently highlighting the best practices and strongest points of the company to persuade the buyer to push through with the purchase.
• Advertising – You may want to consider having your business listed on online marketplaces like Small Business for Sale Vancouver, which buyers usually visit to look for available business. But you can also tap a business broker to do the marketing for your business. If it’s possible, ask the assistance of a local-based broker with a wide network. He/ she certainly can do a build-up for your business with a more in-depth knowledge of the local market (i.e. Vancouver). But make sure to still keep the whole selling process confidential in order to avoid negative reactions from your customers, suppliers, and employees.
• Smart negotiation – Apart from the asking price, you may also want to negotiate with the buyer other matters like if you can further work for the company for a while after the sale as a consultant or trainer of the new owner and staff. You may also want to get an assurance from the buyer not to lay off a lot of the key employees.

Plans after the sale – Assess your interests and be smart enough to know where to invest the earnings you got from the sale. Make sure it’ll be able to fulfill some of your future goals. You might want to put up another business or plan a grand trip to Vancouver. You may also want to use the time and resources to learn new skills.