Selling a Business to the Right Buyer

What You Need for Selling a Business to the Right Buyer

Just like with the sale of a house, selling a business takes a while. It typically takes from six months upwards. Though, contrary to the popular notion that buyers are limited and hard to find, the pool size is larger than you think.

A lot of people wish to be entrepreneurs, and many have the money to start their own ventures. However, most don’t want to do the legwork and prefer purchasing an already profitable venture. With the right advert that has been placed strategically, you can attract multiple and qualified buyers.

Selling a Business with the Right Advert

Now that you know that businesses are in high demand, you’ll want to know how to streamline your advert to only draw the attention of serious and suitable buyers. Having every Max and Mina ask to see the paperwork and view the assets is time-consuming. To avoid any tedious distractions from keeping the doors open and everything running while you wait to sell, contact a broker.

Here are a few tips to get you started:

·         Explore various options by speaking to several prospective buyers.

·         Promote the positives of the venture, but don’t try to hide the negatives.

·         Write down your preferences and requirements for an appropriate buyer.

·         Take enough photos of your store or assets to avoid unnecessary viewings.

·         Share some history and interesting facts about the venture.

Why Seek Out a Buyer and Not Sell to the First Available Candidate?

Similar to you having a selling price in mind, buyers have set amounts that they are willing to pay. If you only ever see one potential candidate, you could be losing out on making a better profit from the sale.

However, there are multiple reasons for wanting to choose a certain type of buyer. For instance, you might be very passionate about your venture, and want to see it grow and not fail after leaving it to someone new. You may want to ensure the employees can stay on and will be treated well by the next business owner.

Express your views and prerequisites to the broker. This way they can focus on portraying the venture in a way that will attract candidates that meet your expectations.

Brokers Who Hit the Target

When selling a business, it is crucial that you speak to brokers about your goals and concerns for the sale. With the right broker to guide you on how to go about, you can find a suitable buyer in no time.

Brokers are well trained in locating favourable candidates and promoting businesses to target the preferred audience. Deciding on the best brokers for selling a business is extremely important for a pleasant and successful sale experience.

They handle the legwork in screening potential buyers, guide you regarding licenses and documents to get ready, assist in the stocktake process, place the ads, and see the sale through. You can focus on operations rather than having to deal with every potential buyer.

Selling a business doesn’t have to be stressful but only if you put your trust in the hands of competent professionals.

Give us a call to get started.