The prospect of selling your business can certainly be a daunting one. For that reason, our team at Central Business Brokers is there to guide you through each step of the process, ensuring the smoothest experience possible. If you are looking to sell your business or are even just exploring the option, please don’t hesitate to get in touch. Our friendly and experienced staff are happy to answer any questions you may have.
When facilitating the sale of a business, one of our primary goals is to ensure that both you (our client) and the purchaser are happy with the sale. We want both parties to feel as comfortable and satisfied as possible with their respective decisions.
Yes, this is 100% possible!
Included below are a few of the key elements regarding the process of selling a business.
Our ethical responsibility
Often when looking to purchase a business, buyers tend to have concerns about the risk of “hidden facts”, believing that the undisclosed elements of the business are the vendors true reason for selling. One component of our work is to understand your business as best possible, including its strengths and weaknesses, opportunities and challenges, so that we can present a true and sincere representation to potential buyers. In this we are able to ensure that all dealings maintain accuracy and allow potential buyers to feel more confident in investing in your business.
The selling process
In order for our team to properly understand your business, we analyse a number of elements of the business, including financials, structure, business model and many other areas. We will return to you with questions until we are satisfied that we are intimate with the many aspects of your company. We’re keen to learn as much about your business as possible during this initial stage of the process and we make sure to do so as efficiently and accurately as possible. At this point we are able to offer you an appraisal of what we believe the market will pay for your business.
Once we have developed a clear understanding of your business we are able to develop a marketing strategy package which will increase the chances of your business being sold in a shorter time. This then allows us to communicate your business to prospective buyers in a targeted and effective manner.
Throughout this time we will also offer suggestions as to how you can optimize your selling price as well as some tips on how to maximise turnover (which will be reflected in your profits and ultimately, your sale price).
We will continue to advertise your business and work tirelessly to find you the perfect buyer. As soon as we receive an inquiry, we have the interested party complete a Confidentiality Agreement. This protects the you from both people who are not really serious about buying as well as from curious competitors. We make no exceptions to this rule. If a party does not sign the agreement, we don’t hand over any information.
All of our procedures are designed to streamline the process and enable us to find the most serious candidates to buy your business.
Once a buyer is found
Once an offer has been submitted, we will negotiate on your behalf to achieve the greatest value and best result.
Should you, the Vendor accept the offer, the Purchaser deposites 10% into a Trust Account, which can only be handled by a Licensed REIV member (these funds are also guaranteed by the State Government). Following this deposite is a period of due diligance on part of the Purchaser, followed by finalisation of Contract of Sale.We facilitate in the preparation of all relevant documentation and will assist your solicitors in any way we can throughout the process.
Once contracts are signed and settlement occurs, we immediately hand over the 10% deposite factoring in financial adjustment for our fees.