Don’t blow the biggest deal of your life by Linda Harley
Don’t blow the biggest deal of your life
The sale of your business can only happen once,or unfortunately for a number of owners,not at all.
The sale is a complex process and needs to be managed carefully for a successful and rewarding outcome. The Australian Institute of Business Brokers (of which I am a member) confirms the sale of businesses continues to be challenged byfinance, vendor price expectations and economic conditions, but on a positive note there is increased buyer activity.
These challenges are impacting on the timeframe to sell making it even more important that your Business Broker is working smarter and harder to complete a sale.
But don’t fall prey to the 3 myths that can derail or seriously affect a potential sale.
Myth #1 – I Can Sell It Myself
Many owners believe they’re qualified to sell their business without professional assistance. Selling a business is not like Read more 
Increase the Value in your Business! By Linda Harley
When it is time to sell your business, how sure are you that you will receive good value for what you have created?
From my experience in business sales, the importance of planning for the future of your business can not be underestimated. A business plan will ensure that you stay firmly on track and focussed, but of equal importance is the Exit plan. How are you going to optimise the value for the business you have created?
You are probably familiar with the saying “you get what you pay for” – in selling a business it is “you receive the value for what you create”.
To plan for your exit continue to run the business as you normally would but, always ask yourself how a new owner might view the business you have built, and respond to the decisions you make.
Each business has its unique selling points and no two businesses will necessarily have the same market value. As a guide there are seven things a buyer will pay a premium for: Read more
Start Up or Buy an Existing Business? by Nigel Skinner
Start up a new business or buy an existing one? Many would-be business owners face this dilemma. In business sales we often see buyers who think that they can go and set up a new business rather than buy an existing one, thus making a saving on paying someone else for goodwill. If it was that easy why don’t we all do it?
The first thing to know is: what is goodwill? The best definition I have found over the years is “the ability of the business to maintain and create future profits”.
If the business is already, making profits then the element of risk can be managed. In a new start-up business the profits are yet to be determined and are only projections in the formative years of operation. Without a proven track record the “risk” factor is far greater than a business with established goodwill.
As an example, a new business which say costs $150,000 to set up with all plant and equipment, legal and establishment costs, web site etc. could seem a very cost attractive way to get into your own business particularly when a similar existing established business may cost $300,000. However, the “risk” element is far greater as profits are ultimately unknown and yet to be established on a regular basis. Read more
Preparing a Business For Sale by Rod Russell
The amount of preparation that goes into selling a business will often dictate weather the business will sell, how long it may take and what most Sellers will say is most important of all how much money it achieves.
Every business owner should have an exit strategy and a business plan. This information can be crucial to monitoring the performance of the business, achieving the owner’s goals and it may well become vital if and when selling the business.
Generally buyers of a business will engage several professionals advisers when they contemplate a purchase. Accountants, solicitors and financial institutions will need all relevant documentation and information pertaining to a business, if they are employed to make an educated analysis.
Having that information available upfront is paramount. Sellers must understand that full taxation returns, original lease documents and lots more sensitive information will be required at some stage during the transaction. An agent has a much better chance of a result if they have this information compiled upfront. This does not mean that they will give it to anyone that asks for it. Good agents are educated to know when and who to give this information to. Read more
Selling a Business by Rod Russell
Selling a business is an intricate process that involves fastidious preparation and planning, creative marketing and the skills and ability to deal with numerous obstacles throughout the hurdles along the way.
Some people in our industry liken it to herding cats, yet they believe herding cats is much easier!
Savvy Business Sales was created with one goal in mind which is to totally systemise the process for selling a business and to develop proven procedures and strategies, ensuring sellers achieve premium results with minimal fuss all within a realistic time frame.
With seventeen years local industry experience Rod Russell and the Savvy Team can now say they have achieved those goals. Our systems are based on the experience we have gained from local business sales worth approx. $200 Million. We will continue to learn, develop and adapt says Rod, however, our current systems and results are second to none.
How Will This Benefit You?
We refuse to cut corners at Savvy Business Sales. So should you employ us to sell your business you can expect professional preparation and marketing, unquestionable ethics, and constant updates and communication including our 30, 60 and 90 day reviews. Read more
