7. How to sell your business the smart way

Don’t try to sell it yourself. An arm’s length offering presented by a reputable, licensed brokerage, who is accredited by the Australian Institute of Business Brokers will provide more creditability to your business and consequently attract more buyers.

Obtain the full financials from your accountant, not just those from your own computer. Banks and accountants will not accept anything other than accountant’s figures to finance businesses. 

Put together an accurate and up-to-date list of Plant and Equipment. 

Price your business correctly, Businesses that are listed for overinflated prices, take longer to sell, and are devalued over time in the mind of the buyer. The other thing to consider is that there are always more buyers at the lower price points in the market.

Know what areas for growth your business offers to a new owner.

Smarten the business up a little. A well-presented business, like a house, is easier to sell.

Be prepared to spend some money to promote your business (you cannot sell a secret). We are highly effective at marketing businesses discreetly and providing you with genuine buyers without compromising your confidentiality. The more buyers that are interested in your business, the more likely we are to sell it at near list price.

Don’t give up! There is a buyer for every business. Some businesses are harder to sell than others, usually because they require highly specific skills to run them; florists, interior decorators, restaurants, mechanical and electrical servicing businesses are all good examples.