For a large portion of buyers, a business should be profitable. It should have systems in place and provide an opportunity for the incoming owner. Having historical sales and documentation available is critical.

To put it simply, buyers are what determine the saleability of a business. It will be sellable as long as there is a reason for a buyer to purchase your business.

Is Your Business Transferrable or Are You The Business?

While there will always be exceptions to the rules, generally speaking, if your business is something that cannot be separated from you personally, you must consider if the business is sellable at all.

If you possess a set of skills that are not transferable, you are the business.

For example, if you are a talented painter who makes a living out of selling your own paintings from your garage, this would be a challenging business to sell.

However, suppose you own the art gallery that sells the paintings and has a large customer base of buyers. In that case, you are separated from the business.

You have an asset to sell!