If you plan to sell your business, it is important to work with a company that specialises in the buying and selling of companies. Selling a business is not unusual in Australia where businesses last about five years on average. To prepare a business for sale, you need to give a licenced and professional broker as much information as you can so he or she can list the business successfully.
Receive a Higher Sales Price
When you collaborate with a broker, you have more latitude and a better opportunity to sell your business. A broker has the experience and credentials required to market and promote your business. Not only will a professional such as a Trident business sales agent screen possible buyers but he or she can usually negotiate a sales price that is above what you could get yourself.
Why Using a Broker Is Recommended
A broker is a good person to know as he or she possesses no emotional attachment to your business. His or her main goal is to sell your business at the best possible price and to a serious buyer. In turn, your business will be promoted in the best possible light to ensure a successful and lucrative outcome.
Broker Services: The Steps
When you place your business for sale in the marketplace, a business sales broker will initiate the following activities:
- Listing the business to sell it
- Obtaining the required documentation such as the lease, financials, and list of equipment
- Investigating data to see where your business is positioned in the marketplace in relation to the sales price
- Creating promotional and marketing campaigns that highlight your business
- Following up on inquiries and leads confidentially and systematically
- Contacting suitable buyers to present the business to
- Liaising with banks, lawyers, or accountants who are representing interested parties and responding to inquiries
- Performing inspections with buyers and the client
- Working towards closing a deal whilst answering any concerns
- Liaising with the seller regarding offers that have been made and the associated terms
- Accepting an offer and holding deposits until an agreed settlement
- Liaising with a franchisor or landlord to receive approval for the buyer
- Negotiating with accountants and lawyers who are involved in the sale
An Involved, Yet Rewarding Processing
The above listing shows you the steps that take place when a business is placed for sale in the marketplace. As you can see, the process is involved. Therefore, it is worth your time to turn over the sale of your business to a professional in the industry. By taking this approach, you will realise a better outcome. Whenever you coordinate with an expert in the industry, you can proceed with your transaction with more assurance and confidence. Take time today to call a broker about your business sale.