14 Jun It’s Time to Exit. Are you Ready?
Thinking about whether you’re ready to exit your business is an important question — and one that every New Mexico business owner will eventually have to face. Whether you’re running a boutique in downtown Santa Fe, a café in Albuquerque’s Nob Hill, or a contracting firm in Las Cruces, you don’t want to wait until the 11th hour to prepare for a sale. There are far too many moving parts in this process to leave to chance. The earlier you begin planning, the more options you’ll have.
Determining Value
First, determine the market value of your business. It’s a harsh truth, but what you believe your business is worth and what the market says it’s worth are often two very different numbers.
That’s why working with a seasoned business broker early on is invaluable. At Sam Goldenberg & Associates, we’ve spent decades valuing and selling businesses across New Mexico — from Taos to Roswell. We understand local buyer trends, lending realities, and how to position a business to attract qualified interest.
At the end of the day, the marketplace determines value, but the right advisor helps ensure that your asking price aligns with what the market will actually bear.
Going Within
Next, take time to consider whether you truly want to sell. Many New Mexico business owners begin the process only to realize that the timing, whether emotional or financial, isn’t right. Wanting to sell and being ready to sell are two very different things.
If you find yourself in that situation, don’t view it as a setback. Consider it a valuable part of your long-term planning process. You’ll gain insight into your business’s current market position and what steps you might take to make it more attractive and self-sustaining for the future.
Get Your Ducks in a Row
Once you’ve done your financial assessment, taken stock of your goals, and determined that now is the time to sell, organization is everything. Serious buyers — and their lenders — will want to see detailed records.
At minimum, you’ll need three years of profit and loss statements and federal income tax returns. You should also be ready to provide:
- Copies of your current lease and related documents
- A list of loans or liens against the business
- Any franchise agreements (if applicable)
- A detailed list of fixtures, equipment, and inventory
- Copies of equipment leases and supplier contracts
Being able to present this information quickly builds credibility and can prevent costly delays.
Work with Trusted Professionals
Selling a business is complex — emotionally, legally, and financially. That’s why working with experienced professionals is essential. Accountants, attorneys, and especially business brokers bring perspective that helps you avoid missteps and keeps the process moving forward.
At Sam Goldenberg & Associates, we’ve guided hundreds of New Mexico business owners through this transition. Our role is to prepare you for what’s ahead, help you tell your story compellingly, and position your business for a smooth handoff to the next owner. Contact us for a free consultation. We welcome getting involved earlier, helping you explore your options, and clarify key considerations. To read more about this topic , visit How to Ensure a Smooth Business Sale and Transition into Retirement.
Preparing early isn’t just about logistics; it’s about peace of mind.
This article was inspired by original materials from Business Brokerage Press and has been adapted for New Mexico business owners by Sam Goldenberg & Associates.
