How much will I accept for my business?
Consider your starting point. What will the exit position be for you? You may know how much money you want to get for your business but what is your lowest acceptable offer and also what is your plan if you don't get this?
There are many markets to take into consideration when selling. These buyers may be employees, existing competitors, life stylers, first time buyers, investors, migrants, ex-pats returning home and businesses looking to diversify. To achieve the best result you must know how much the market will pay.
It is often recommended that you place yourself in the buyer's shoes. Would you pay your asking price for your business? If the answer is a straight yes, then your price may be too low. If your response would be a resounding no, then your price is too high. If you would pay the asking price conditional on the numbers being right, then you've possibly hit the right spot.
The one way selling a business is like selling a house is to always try to get the best possible price while being grateful and realistic.
One of the biggest things to avoid is overpricing your business, which leaves it to go stale on the market for an unnecessary time.