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Port Macquarie Business Brokers - Sell your Business

Sell your Business

We would need to discuss in detail your individual needs but the following will provide a general guideline, PLEASE CALL US FOR FURTHER ASSISTANCE.

IMPORTANT POINTS FOR CONSIDERATION.

Please understand that any information you provide regarding the sale of your business will be carefully and  thoroughly  examined by the potential purchaser, their personal accountants and any potential finance provider, as such it needs to give an accurate reflection of your business, and its present position. 

Be aware that any major variation between the figures you have provided, and the figures that your accountant/bookkeeper have provided will need to be substantiated by any independent accountant providing assistance to a potential purchaser before they will proceed with the normal sale transaction. 

You need to ensure that the information you provide, which is the basis for the potential purchaser to assess the net worth of your business, is accurate in all respects.  Any variations for any reason need to be explained either at the initial contact, or the first available opportunity to ensure that no confusion or doubt is created. 

We need to remind you of the legal requirements for you as a vendor, and ourselves as your Agent to make full disclosure on all matters which are, or ought to be, within your knowledge where it pertains to your business.  There are a myriad of questions in this area and we will assist you wherever possible to ensure this part of the sale process causes no concern. 

Please contact us immediately should you need any assistance regarding any of the above matters.  While it may appear daunting initially,  the better the preparation and presentation the better the prospect of a successful sale at an acceptable price. 

One of the first questions potential sellers ask us is: “What is the goodwill of my business worth?” 

Maximising the sale price of a business is influenced by a few factors, one of which is the profitability of the business!  Other factors that will have an impact on the price include: 

  • The level of dependence upon a working owner and how systemized the business is.  (That is, how heavily does it rely on the owner.) 
  • How transferable existing clients’ goodwill is to a new owner. 
  • How much additional investment in ongoing working capital would a purchaser have to make to cover items such as debtors and inventory. 
  • The handover you can give the purchaser to ensure continuity for the business; and 
  • The willingness of banks to lend or partly finance a purchaser if required.

Depending on the nature of your business, there are likely to be other factors in addition to the above that will have an impact on the sale price.

The better prepared you are to deal with these areas, the more appealing the business will be to a prospective purchaser. 

It may be advisable to work with your accountant to ensure that you can  provide the  best possible details to a prospective purchaser on the above areas.

 

Port Macquarie Business Brokers
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Sell your Business - Port Macquarie Business Brokers helping you Buy a Business or Sell your Business in the Port Macquarie area.