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Sell My Business

Looking to Sell Your Business?

Perhaps you’re ready to retire? Maybe you are looking for a new opportunity? Whatever the motivation is to sell, Alliance Business Brokers will work with you to ensure the best price is achieved in the best time frame.

We understand that you have worked hard to build your business, so we will work hard to ensure it ends up in the right hands. With a network of strategic buyers, proactive marketing practices, thorough market and industry knowledge, and one-on-one support; Alliance Business Brokers is your ally in the sales process.

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Personal and Thorough Approach

They say the devil is in the detail, and this is certainly the case when it comes to selling a business. You want your Business Broker to be approachable, connected, proactive, consistent and thorough. This is exactly what you get when you work with Rick. Alliance Business Brokers delivers a personalised service that is founded in these attributes. Rick is driven by the best outcome for business owners, and will work with you to realise the true potential of your business and your future endeavours.

While the process will be tailored to suit your needs and budget, it generally includes the steps outlined below.

1. Business Appraisal

Your business sale process will start with an accurate business appraisal. Determining the fair market value for your business is crucial to ensure you, the Vendor, receives the highest proceeds and on the best possible terms when selling your business. If a business value is too high, potential buyers will not be interested. If the business value is too low, the Vendor will not receive the full value they are entitled to. Alliance Business Brokers have the experience to take all relevant variables under consideration including your business’s strengths, historical financial performance, growth potential, tangible and intangible business asset value, and the many factors to properly appraise your business and deliver the best result.

2. Information Memorandum

An Information Memorandum will be implemented that authorises Alliance Business Brokers to market your business for sale, and identify qualified prospective buyers. The memorandum allows us to discuss the business with qualified parties and to provide the business details to potential buyers. We will sell your business utilising our confidential business sale procedures, unless you instruct us otherwise. We will market and sell a business in a way that will prevent employees, competitors and other third parties from knowing about the sale, until you, as the owner, elect to disclose the information. We appreciate that selling your business invokes a need for privacy, and we ensure all procedures are discrete and confidential.

3. Marketing Strategy

A proactive marketing strategy will be implemented for your business, and can include online advertising, targeted media campaigns, and direct email distribution and contact with qualified buyers. We will also keep in mind the level of confidentiality needed during this process, and ensure the information goes only to those who are identified as strategic buyers. All marketing strategies are tailored and specifically created for individual businesses.

4. Qualifying Potential Buyers

Rick will prepare a Strategic Buyer Plan and conduct interviews with potential buyers to ascertain their interest level, ability to meet the financial requirements of the transaction, and determine if the business is right for them. If approved, we will ensure a confidentiality agreement is signed by the potential buyer. This agreement signifies their legitimate interest in the business, that they are financially qualified, and understand and agree to the confidentiality expected throughout the sales process.

5. Inspections

Rick will answer as many of the potential buyer’s questions as possible and determine if an inspection is warranted. If so, you will be contacted by Rick who will organise an inspection of the business with you. At this meeting either you or your representative will show the prospective buyer the business and respond to any general queries. In this step of selling a business we realise the meeting may need to be scheduled at the appropriate time and place to maintain confidentiality.

6. Buyer’s Due Diligence

It is normal when you sell a business that the offer to purchase will include a provision for the business buyer and/or their advisors to verify the accuracy of the Vendor’s operational and financial performance and other items. Alliance Business Brokers, will work with you, the buyer and any additional parties to address issues that may arise.

7. Contracts of Sale

Alliance Business Brokers will instruct your solicitor so they can prepare a draft Contract of Sale. The agreed terms and conditions vary from sale to sale, but Alliance Business Brokers will work with your solicitors and accountants to ensure the best outcome. On signing the contract, the Purchaser pays the balance of the deposit. This payment is held in trust pending the completion of the sale.

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If you’re ready to start a confidential and obligation free discussion, complete our enquiry form or contact Rick today!

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FAQs

If you are considering selling your business, we recommend contacting a professional Business Broker to discuss the market and what your business might be worth. This conversation will enable you to make informed decisions about the saleability of your business, and determine if there are any improvements you can make to ensure a better result. After all, you only get one chance to sell your business, so it’s best to be prepared.

Determining what your business is worth involves several considerations and processes. Obviously, the profitability of a business is a key factor in determining a sale price. However, this is not always the case.

A professional Business Broker will need a clear understanding of not only your business, but the local area, industry, market, and the potential buyer’s key motivations and needs. By assessing these factors, along with performing a thorough review of your business, a likely selling range can be determined.

When embarking on the journey to sell your business, your Business Broker will require several pieces of information that will inform the saleability of a business, the value of your business, and how to present your business to the market. As a starting point, these items might include:

    • Financials from the past 3 – 5 years
    • Details of the assets that will be included in the sale
    • Property / premise details include physical address, leasing agreements and / or property valuation
    • Business details including if it is a franchise, ABN, business trading name etc.
    • Contact details for all involved in the business i.e. owners, managers, stakeholders etc.
    • Current stock levels, if relevant
    • Details of any licenses or accreditations

Your business could sell quite quickly, provided it is priced correctly, presented well and marketed to the right target audience. Some businesses may not even make it to market, as a well handled process could mean a sale before this point.

Rick’s years of local experience means he has a network of trusted business professionals and strategic buyers ready to assess your business and any opportunities available.

Without the right support, selling your business can be challenging. It may take some time to find the right buyer and you may not achieve the best outcome. Alliance Business Brokers is your ally when it comes to selling your business. Rick will work with you to determine the best solution for your business, assess your needs, evaluate the market, and coordinate strategic buyers who are ready to jump on new opportunities. Essentially the service offered will ensure you sell your business at the best price and in a timely manner.

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