So you’ve decided to sell your business, what options do you have?
You have decided to sell your business for one or more reasons: it could be because you decided to move or emigrate; You may want to profit after many years of hard work and retire; Or you may have decided to move to a new company.
Once you have made the decision to sell, you must decide what method you will use to ensure a successful sale.
You only have 2 options to decide:
1) Hire the services of a commercial broker or
2) Sell your business yourself.
Having sold my own businesses privately in the past, and having owned my own commercial brokerage and sold businesses on behalf of clients, I am qualified to provide an overview of the pros and cons of both methods.
Selling through a trading broker:
– A qualified broker can help you set the right price for your business to ensure a successful sale.
– Gives you time to focus on running your business and avoiding potential decline in turnover and profits.
– A qualified broker knows the most effective process to use from the commercialization of your business, the selection and qualification of potential clients and the negotiation of the sale with an interested buyer.
– The Broker has the necessary documents to qualify potential buyers and conclude a sale.
– Brokers usually charge a commission of 10% on the sale price of the Business. This could mean a lot of money coming out of your pocket! You must decide if you are willing to give away 10% of the sale price of your business!
– If a brokerage broker needs to meet his goal, or is short on personal funds, you can pressure him to accept a lower offer for his business in order to meet his needs.
Sell your business privately:
– You know your business better than anyone. You are the best person to answer questions about your business. He also knows the industry and can suggest ways to improve turnover and profits. It can also signal future opportunities in the industry.
– You can save on the 10% commission charged by brokers. The extra 10% could represent a substantial amount of money and will go a long way toward your future plans!
Conclution:
– The reason most sellers don’t sell privately is because they don’t really know how!
– They don’t know the best way to market their business for sale, how to qualify potential buyers, what steps to take, and what documents are needed. They also know that they will need to spend an unknown amount of money for a lawyer to work out the agreement.
What if there was another option?
– You get a step-by-step guide to sell your business;
– Your business is advertised on a premium targeted site;
– Receive all the clues yourself;
– You get all the documentation to conclude the sale;
– You get access to telephone support and advice from a qualified trading broker;
– You pay 0% commission!