Now that you are considering selling your business, a well-planned approach to the process is required to ensure you are selling at the right time and will achieve the best price for your business.
When is the best time to sell a business?
You need to assess the marketability of your business. We can assist with this based on our knowledge and experience in the market. If necessary we will suggest to you a more suitable time or changes that you could make in the business prior to placing it on the market in order to maximise its value.
In our initial meeting we will advise what you need to do to prepare the business for sale. A buyer will require information about your business and the presentation and accuracy of that information should be made in a way that gives prospective purchasers an accurate summary of the business.
Should I use a business broker?
As part of your decision making process you may consider using a business brokerage. In selecting the right business broker you should consider the following:
- Does the company specialise only in businesses for sale or is it an add-on to a real estate operation?
- Does the company have brokers who specialise in your industry? Does the company get results?
- What is their track record in business sales?
- Are they professional and ethical?
There are many advantages in using a business broker. While you are busy with the day to day management of your business a business broker will handle all the calls, qualify all prospective purchasers and ensure that they are genuine and have the financial ability to purchase. If you try to sell the business yourself it can be much more difficult for you to keep the sale confidential from your staff, customers and suppliers when there are prospective buyers personally contacting you.
Using LINK as your business broker.
We have a database of qualified buyers waiting for certain businesses, and in many cases we sell to waiting buyers before the business is advertised. This avoids having to market the business and an excellent price is often achieved as buyers are waiting know the value of your business.
For Further Information about this article, contact your nearest LINK Business Broking office at:
