At LINK, we’re all about selling smarter so you can get the best value for your business. Our brokers are highly experienced, with several being experts in their chosen sector. We stay true to our values and keeping vendors informed from the outset is integral to that. So, if you’re thinking of selling your business, here’s a chronological glimpse at the 9 proven steps that you and your broker will take to ensure a smart sale.
1. Planning
Planning before you sell your business is a vital first step for several reasons. A significant one is that doing so allows you to understand the current value of your business and identify areas that may need improvement to increase that value. Ultimately, this can lead to a higher sales price!
2. Business Value Appraisal
VALU.LINK, a tool designed & utilised by LINK will help you professionally determine the value of your business. LINK’s unique tool considers four key elements: economic situation, financial analysis, accounts normalisation & business market value. Using a trusted tool through experienced professionals is hugely important as it provides a level of credibility because it can increase the confidence of the seller & the make the business more attractive to potential buyers.
3. Documentation
A business specific Information Memorandum (IM) will be created by your broker/specialised LINK copywriters to support the sale of your business. IMs are an important marketing tool in the process of selling a business as it overviews business history, management structure, products or services, financial performance, industry trends and future growth prospects. An IM can create a positive first impression and increase the visibility of your business to potential buyers. It also provides a level of transparency and credibility that can increase the confidence of potential buyers.
4. Identifying Buyers
LINK business brokers have a vast network of contacts and resources that can be used to identify potential buyers. They have access to a wide range of suitable buyers, including those who may not be actively looking to purchase a business but may be interested in specific opportunities – giving your business a wider buyer pool not afforded anywhere else.
5. Marketing
LINK is one of the largest business sales marketers and advertisers in Australasia. As a result, LINK’s marketing campaigns (ads, brochures, web, social media) are second to none. Tried & true, professional marketing is a massive advantage as it helps your business attract the right buyers through proven strategies without identifying your business.
6. Qualifying Buyers
As previously mentioned, LINK brokers have access to copious potential buyers that have already been qualified and vetted. By pre-qualifying buyers on your behalf, your broker can help you avoid wasting time and energy on buyers who may not be able to close the deal, or who may not have the best interests of your business in mind.
7. Sale & Purchase Agreement
Your broker will effectively coordinate the sale and purchase agreement with you after a buyer expresses interest. It’s hugely beneficial to have a LINK broker’s informed perspective when deciding whether to accept the offer or not. Your broker will help ensure that the terms of the agreement are understandable, fair and reasonable for both parties and that all necessary legal and financial considerations are taken into account.
8. Due Diligence
Your broker will provide an objective perspective during the due diligence process, ultimately helping you make informed decisions about the sale. Using a business broker during the due diligence process will provide you with invaluable guidance and support, help protect your interests and can facilitate a smoother and efficient process in general.
9. Settlement
As the process reaches settlement, your broker will guide you through the final steps of the sale ensuring that your interests are protected & met.
If you’re interested in learning more about LINK’s 9 step formula to a smart sale for your business, get in touch with us on 0800 546 528.
