Melbourne, Australia – Nov. 21, 2015 – Sell My Business is one of Melbourne’s premier business brokerage firms that helps sell your business and owner Jamie Rothnie announced that it has released its Top 7 tips owners should consider before selling their business. Many individuals sell on impulse without proper preparation. The results are businesses that don’t sell at their full potential.
“You need to put as much thought into your exit strategy as you did building the business,” said Rothnie.
Business owners sell for a myriad of reasons, but it should never be done on impulse. It can take up to two years to put a business’s affairs in order and make it attractive to buyers. Those looking for income potential want the ability to quickly access pertinent information and not have the sale thwarted at the last minute by a lack of documentation.
Sell My Business offers DIY business sales and provided the following Top 7 tips to consider before selling any business.
- Is it ready to sell – have documentation to support profitability, assets and any liabilities
- What will the buyer see – family owned businesses need to pay particular care with tax write offs items that will make the business appear less profitable, from association fees to company provided vehicles
- What assistance will be needed – most business owners will need the services of a financier, accountant, attorney, appraiser and business broker
- Is now a good time – don’t wait until the business is in decline, has lost its customer base or demand has dropped from the market
- Can the business adapt – technology changes quickly and those that can’t or don’t adjust to those changes should sell before buyers pass it by in favor of those with modernization
- Define deal breakers – make it clear which, if any, intellectual properties and other rights are retained by the current owner
- Will the business survive without the present owner – buyers want to know that the enterprise they acquire can operate without the need for the current owner
Sell My Business offers DIY business sales, lists clients businesses on the top seven ranked selling sites and in its comprehensive database of buyers. Valuations, market research and documentation are provided for clients selling their business. The DIY brokerage firm provides the extensive array of services to facilitate sales for maximum benefit.
For more information, call 0415 233 443.
About Sell My Business
Sell My Business is a leading Melbourne business broker, offering multiple services for clients who want to sell their business. Affordable pricing and confidentiality are hallmarks of the firm.
Phone: 0415 233 443