If you happen to be interested in retiring, are shifting industries, or simply wish to liquidate and finally convert your company into well-earned capital, it’s in your best interests to partner with a reputable business broker, especially if you’d like to streamline the process, reach as many potential buyers as possible, and close a lucrative sale.
But before you hire a local broker to help facilitate the sale, it’s important to understand exactly why these contemporary business mavens are worth their weight in gold in today’s day and age.
This brief article will help fill in the blanks.
The most , are licenced, accredited, and incredibly dextrous with regard to facilitating all of ins and outs of a high-value business sale:
- Conducting an extensive appraisal of your business, including all internal assets, revenue streams, equipment valuations, and anything else pertaining to your scope of operations
- Compiling and appropriating all of your financial records
- Advertising your listing through a myriad of trustworthy channels
- Screening potential buyers and protecting your personal information during the marketing and scouting stage
- Demonstrating first-rate negotiating skills and tactics
A Comprehensive Approach
Due to the fact that the average lifespan of Australian proprietorships is approximately five years, you’ll probably be thinking about your exit plan sooner rather than later, which is why it’s so important to establish a working relationship with a team of brokers as soon as you begin considering the prospects of a sale. Only they can facilitate the most nuanced requirements of a modernised transaction:
- Obtaining the relevant documentation and authorisation to sell the business
- Establishing a suitable sale price based on market trends, industry developments, and comparable deals
- Creating an intricate marketing campaign to target industry-specific buyers
- Using an in-house database of preapproved, serious buyers
- Evaluating all potential purchasers by conferencing with their accountants, lawyers, banks, and other relevant entities
- Conducting the appropriate inspections, reviews, and assessments to ensure a smooth, legally sound sales process
- Negotiating multiple offers with leverage
- Housing deposits in trust until the official settlement date
- Working with landlords and/or franchisors to obtain approval and consent for the purchaser
- Closing the sale and obtaining the necessary paperwork from municipal entities and agencies
As you might imagine by now, you’d need a robust team of in-house lawyers, accountants, negotiators, appraisers, and other authorities to complete such an extensive process, which is why it makes much more sense to enlist the services of a professional corporate brokerage firm and outsource the aforementioned responsibilities. They’ll have all of the resources and specialists you need under one roof.
However, even if you aren’t planning on selling your business in the near future, you should still reach out to one of these organisations in order to gain access to a myriad of targeted support and advice, particularly if you’ve never had a licenced third party assess your operations.