We make sure that the price is right. If you price your business too high, serious buyers won’t even consider it. Price it too low and you are throwing away hard earned money. Your LINK broker can guide you on what the market is paying for businesses similar to yours and what else is on the market in the same broad category.
Present it Right
You will get a better price if your business looks professional and organised and is clean and tidy in all respects including signage, interior, fittings, office, and storage areas. Your plant and equipment should be in good operational order.
Write Down Your Systems
Show the prospective buyer how easy it will be to take over. List your suppliers and major customers, the jobs to be done, the hours of operation, service providers, and what records must be kept.
Allow Time to Sell
On average, businesses take three to four months to sell. If you have to sell in a hurry you are in a weaker negotiating position and likely to be disadvantaged.
Prepare for the Sale
Buyers (and their accountants) will want to see up-to-date figures – financial accounts, daybooks, banking and GST returns. Lease agreements should be available for inspection and ideally have a reasonable term to run. Being ready with this information keeps the sale moving along smoothly.
Be Totally Honest
Don’t try to hide or disguise anything. Any irregularities or problems with a business will almost certainly be discovered by a buyer and their advisors during the due diligence process. It’s vitally important to establish trust up front and throughout the process.
Use a Business Broker
LINK brokers have specialist expertise derived from many years of experience in business sales. We can provide advice and guidance every step of the way, protecting your confidentiality, qualifying the genuine buyers and taking care of all the details.