I am 25 years old have been running a successful startup with 2-3 employees for the last 3 years and wish to pursue an MBA abroad. I wish to sell my business however it is registered as a Proprietorship and not Private Limited. How does one sell the business and reach out to potential buyers?
You can try to sell your business on flippa.com. I do not suggest you to do that if your business is valued more than $250K. good luck!
It makes no difference what kind of business entity you have in your ability to offer something for sale. It just requires a different kind of paperwork to transfer ownership. I've never heard of a "private limited." Do you mean an LLC?
Unfortunately there's no real marketplace where you can simply list your business for sale. Often times sales occur by directly offering to your competitors, as a way for them to expand their share of market. Another common way is to let your attorney know that you're interested in selling, and their firm may know other clients who are in the market for acquisitions. But, there's no "eBay for businesses" that I've ever encountered when looking.
Yes there are marketplaces for franchise opportunities, but that's not the same thing. The above two paths are the most common starting points for selling a business that I've encountered. I'm sure there are others and you may get more suggestions, though this CFL group is probably not the audience who would be familiar with that stage of business evolution.
You haven’t given any details on business, you could connect people on this platform or reach out on linkedin
reach out to me via linkedin or message me
I will be interested to know more details
Hi there. We can help you with that. Look us up at www.baxterboyer.com. Depending on the business and valuation, I may have a buyer lined up. My email is email@example.com
It depends upon the type of business you are into. If you are a product based startup, having it registered as an LLC or Pvt. Ltd. would be helpful. For service based startup, it makes no difference though larger buyer would prefer having it registered. From your terminology, I guess you are based in India, and proprietorship business in India is largely unregulated and hence selling it won't be easy unless you have transparent accounting.
I see some people are commenting on listing it on Flippa and such sites - they don't work for the entire business. However, if your 'startup' is only a website or an app and that's your entire asset that you're planning to sell, such classified listing could help.