Looking to Sell Your Business?

Here is What You Need to Know First

Overview
Selling a business is not like selling a property. A property is an ‘innate tangible thing’. A business is a ‘living thing’. A business does have physical things like equipment and premises. But, it also has intangible things like reputation and an approach and way of doing things, often referred to as its culture.

A business holds a position in the market, rents or owns property, has assets like cash on hand, plant and equipment and inventory.

It has customers and suppliers to trade its goods and services. It has management structures and processes. It operates trading and bank accounts, faces competition, and much more. It has people who are constantly interacting with each other as:

  • Employees;
  • Customers and future customers;
  • Suppliers and future suppliers; and
  • The Community at large.

Price.
Business buyers are interested in the profit a business makes from doing what it does. Their view on ‘price’ will be largely based on how strong and consistent the profits are and how long are they going to be reliable into the future. If you get your selling price wrong about 80(+)% of business buyers will discard your offer to sell your business out of hand. Price is critical to success. We can help you with that.

Presentation.
The presentation to a business buyer takes two forms. Firstly, the documentation prepared to present information to inform prospective business buyers and entice their continued interest. Secondly, The physical presentation of your business needs to be neat, tidy and display the key components of your business operation. The business premises, equipment, work areas, signage etc may well need attention. If you get your document presentation wrong, or if it is poor in accuracy and content, you will loose further interest from your prospective business buyers. Worse, if you have made statements that could be viewed as incorrect or misleading, you could face litigation. We can help you with that.

Advertising and Marketing.
Marketing. Business buyers will have what they are looking for in their mind. The media used to reach your prospective business buyer should be ‘publications’ (platforms like business for sale sites, Google and other Web Browser search categories, electronic media and social media, email, magazines, etc), that prospective buyers will use to find the opportunities they are particularly seeking. If you chose the wrong media, you will not reach the business buyers you want to. We can help with that.
Advertisements. Business buyers are more likely to respond to advertisement headlines that closely match what they are looking for. Headlines are critical to getting enquiries. The content of the advertisements should address key features of the business at are seen as important to a business buyer . Your advertisements need to be well thought out, well written and be worded as if you are ‘speaking’ to your prospective business buyers. The wrong advertisements will entice the wrong buyers. Worse, there is no response to your advertisement. We can help with that.

Just How Many Prospective Business Buyers Are There?
Be very aware that there are not ‘hundreds’ of business buyers out there who are prospects for your business. Just ask yourself:

  • How many prospective business buyers live within an hour of my business location?
  • How many business buyers would ‘upstakes’ and move to my location?
  • How many of those business buyers would be interested in my business as against someone elses?, and
  • Of those, how many have the financial capability to buy my business now?

And you’ll get a realistic idea. It’s certainly not ‘hundreds. it’s more likely less than the fingers on one of your hands.

Getting your business sold and successfully settled is a little more difficult than selling your property.  You are selling ‘living thing’.  You need to make sure its selling price, how its presented and how it is placed and advertised right.  We can help with that.

Would you like to know more? We have decades of experience in getting businesses sold and our clients moving onto their next goals in their lives.

Talk to one of our experienced business brokers and business valuers. It’s a private conversation. Get practical real world answers to your questions and queries. Call us now or ask to a Quick Contact at the bottom.

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers

Kevin Lovewell

M: 0401-308-385
E: Click here to contact Kevin Lovewell
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Kevin Lovewell

Graham Long

M: 0428-649-791
E: Click here to contact Graham Long
Member & Registered Business Valuer
Australian Institute of Business Brokers
What others say about Graham Long

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Negotia Group
PO BOX 100 Beachmere
QLD4510 Australia
Call 1300-551-757