It is rare that I see a buyer acquiring a business to just maintain that company’s current sales or market share. Arguably, by their nature, buyers want to purchase a business because of the potential it has to grow in some way (and gaining a larger geographic footprint is one of those main reasons).
If you’re looking to sell your business in the next 5-10 years, you should be positioning it so that a buyer can easily step in and further grow its top and bottom line. An important component of the exit planning is making sure your “brand” is protected in the current territory it serves and beyond. The legal way to do this is to register a trademark for your business. This most commonly includes a business “name,” but this protection is also very important for key products and services.
Having this registered mark can set your business up for a successful exit. It will also give you significant protection as you grow the business and anticipation of an event like this. If I can help in any way, feel free to contact our office.