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Is this business actually sellable?

Most businesses with stable results and a transferable operation can be sold. The ones that cannot usually share one of three traits: the results cannot be reconciled to bank statements, the entire operation runs through one person who is leaving, or the revenue depends on something the buyer cannot inherit.

The quick test is to imagine handing over the login details and walking away for a month. What breaks in that month is what a buyer is buying, and what a seller has to fix first.

Size matters less than owners expect. Small companies sell regularly, at lower multiples and to different buyers than larger ones, but they sell.

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