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Port Macquarie Business Brokers - How to prepare your business

How to prepare your business

Can you answer the following questions:

  1. Why do I want to sell the business? (retire, buy another, good opportunity)
  2. When do I want to sell the business? (immediately, soon, 12 months, whenever)
  3. Would I buy this business?  (be honest-would you really?)

 

WHAT IS THE BUYER LOOKING FOR? 

  1. Do you have the last three years of financial figures?
  2. Do you have at least the last 12 months purchase records available? Where are they?
  3. Do you have BAS records to support figures supplied?
  4. Do you have a current lease?  How long to go? Any options?
  5. Is your business increasing, steady or decreasing? WHY?
  6. Is your business profitable? Can you prove it?
  7. Do you have a lot of slow or dead stock? What are you doing about it?
  8. Do you have a systems manual for your entire shop? If not do you need to start one. (OH&S, Safety Data Sheets etc)
  9. Does your business present well? Light bright, tidy?
  10. Have you completed a SWOT analysis (strengths, Weaknesses, Opportunities and Threats ) on your business?  If not we can assist you with this!

 

If you are serious about selling your business you should have answered yes to the majority of questions above.

Generally in Real Estate agents and commentators talk about the  3P’s - Position, Position, Position. 

In selling businesses we talk about the 4 P’s- Preparation, Presentation, Profit, Price!!

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