“Where do we start?”

Once you have made the decision to list your business for sale, the often asked
 next question is “where do we start”? First and foremost, Listabiz suggests you meet in person with our qualified business broker. This initial meeting will highlight the importance of a clear, accurate and achievable strategy.

Many important issues will be discussed and will include:

Sell a Business Listabiz

  • Preparing your business for sale
  • Availability of financial records
  • Maintaining anonymity whilst listing your business for sale
  • Financial objective and a suggested selling price
  • Your goals, time frames and objectives
  • Who is going to buy my business?
  • Where will your buyers come from?
  • Marketing and advertising strategy and costs
  • Negotiating the sale and closing the sale
  • Preparation and presentation of property agent agreement
  • What other professional help will you require
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Top Tips To Help You Sell Your Business

Once you’ve made the tough decision to sell your business there are several key aspects you need to be aware of…. Here’s a quick guide to get you started.

Are you fully prepared to sell your business?

  • It’s a good idea to start with the end in mind…. Think about what you need and want when the business is sold. What’s your next move?
  • What are the reasons for selling your business? List them out and make sure you’re sure a sale is your desired outcome.

Once you know you’re fully invested in selling your business it pays to work with an experienced broker to achieve the best possible outcome.  They will help you to be well prepared, meet the right buyers ready to invest, and to present your business in a professional manner.  Although it can seem quite simple and straight forward on face value, it can be quite a stressful time in your life and you don’t have to go it alone.

You will then need to consider:

Is your business ready to present to buyers?

  • Are your financials ready and formally compiled by your accountant?
  • Does the face of your workplace present as well as possible?
  • Do you have operations information ie processes, suppliers, trades people, any services that you engage to ensure your business runs smoothly?
  • Inventory lists, marketing materials, customer databases and more ready to present as assets to your business.
  • Legal documentation of any contracts, staff details, leases, OH&S procedures etc, all utilised in your business.
  • Do you have forward projections for sales growth for the business to present? Can you show possible areas for growth within the business?

If you can present and sell your business to your broker and answer all of their questions accurately and confidently then you’re well on your way to selling your business.

A good question to ask yourself…. If you’re presented with your business information “Would you buy your business?”

Where do the buyers come from?

Once your information is shared with your experienced broker it is their task to find the prospective buyers.  These can come from targeted advertising channels, and their own database of buyers ready to invest.  An experienced brokers network cannot be underestimated.  Often there may be investors ready and waiting for a business to buy in their area.

As you can see there is quite a few steps to successfully selling your business.  We are more than happy to have an informal chat with you about your business and where you are up to in the sales process.  If you have any questions be sure to let us know.  Once we know about your business we can let you know if we have a possible buyer ready and waiting.

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Advertising, Marketing & Publicity

Once you have made the decision to list your business for sale, we need to attract genuine, interested and qualified buyers. Having established a selling price range, appointed your business broker and prepared your business for sale, an effective advertising and marketing strategy needs to be implemented. This is a critical process that should aim to generate an immediate response. Listabiz will develop the advertising strategy, implement the marketing plan and bring qualified and motivated buyers to the negotiation table.

Contrary to common belief, it really is not a matter of placing an online advertisement and wait for buyers to make contact! A carefully constructed advertising campaign should be a cross section of all media outlets. This must include online internet, newspapers, social media, email data base and industry magazines and newsletters.

Working within realistic time frames and financial restraints, Listabiz suggests the marketing campaign should be a maximum of 6 months. In the event adequate interest has not been achieved by the initial marketing campaign, it is imperative to look at all other options available to attract interested buyers. In some instances, there are valid reasons for an extended marketing campaign and Listabiz can provide you a simple cost effective advertising campaign extension.

Again, in careful consultation with your Listabiz broker you will create a custom advertising campaign that brings qualified buyers to the table!
Remember, “You can’t sell a secret”!!

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