How to Sell Small Business Assets

Selling small business assets means you could be closing your business or trying to raise cash. Either event could be stressful, but you can make the process easier by making a careful plan for selling your assets. A small business asset is anything of value -- equipment, furniture or even a customer list. The U.S. Small Business Administration reports that most physical business assets such as equipment or furniture should be priced at about 20 percent below their retail value based on current age and condition. Check online classified sites for similar articles being offered for sale to help determine your selling prices.

Instructions

1

Contact your lawyer and accountant. The SBA reports that this should be your first move before you start selling off assets. An accountant or attorney can advise you about possible legal and tax implications. The SBA recommends making a list of the assets you wish to sell and then evaluating the list with your lawyer of accountant. You can sell off assets for which you are still making payments, but satisfying the balance due to creditors should be included as part of your plan.

2

Prepare assets for sale. The SBA reports that you should wash, paint or repair physical assets that you want to sell, if necessary. A physical asset could be a printer, office furniture or a copier. The goal is to spruce up the assets so they can be sold for the most money possible.

3

Evaluate assets tied to lease-purchase agreements. Equipment that you have been leasing with an option for purchase could result in a tidy profit, according to the SBA. The agency reports that you may be able to complete the purchase on say, a forklift, by paying a few hundred dollars -- and then sell the forklift for a few thousand. Check all of your lease-purchase agreements for items that you are better off selling at a profit than returning to the leasing company.

4

Sell intangible assets through negotiation with potential buyers. Intangible assets include customer lists, licenses, permits, trademarks and more. Pricing intangible assets may require some research. For example, you county may no longer be granting liquor licenses for a bar, but you may own a bar with a license that can be transferred to a buyer. Under that scenario you would check county records for fees paid to acquire liquor licenses. Then negotiate with the prospective seller based on previous transactions.

5

Sell your assets in a variety of ways. Use online classified sites if your business is small and you only have a few items to sell. Slash retail inventory by having a big sale. Or if your company is large, hire an auction company specializing in business assets.