Specialist business brokers know the law. They have expertise in the details of all types of regulations, agreements, lease contracts, copyright, and bankrolls. A savvy broker’s knowledge will cut through those issues and smooth out the process. This smoothing helps cut time and avoids hidden costs like a large fee sneaking up on the buyer. Australia is world-famous for red tape. You can cut the tape with a broker. They may even bring scissors.
When it comes to the paperwork of the company, the vendor will need to go through the books with a fine-tooth comb and eliminate any costs, outgoings, or expenditure that might affect the sales price when it comes to negotiation. A good broker will set out the statistics in a clear format. This helps the valuation and the confidence of the buyer.
During the negotiation of a business sale between buyers and business sellers, a broker with solid experience will help both parties make sure all boxes are ticked and timekeeping adhered to. This is truly what a broker is for and where their expertise really lies.
Good at Keeping Secrets
You are not going to want to lose the sale because of an external issue. People can cause bumps in the road. With business brokers, you can sell your business confident in the knowledge the sale is kept quiet until signing.
Staff, customers, and even suppliers are not informed. And when they are, your broker will advise on the best path to go when breaking the news. They will have extensive experience in the reactions and fears of peripheral people.
Responsibility is key with a good business broker. The professional services offered include filing all paperwork. Timing of paperwork is essential in all business sales and a good broker will know when and where to do it.
Legal counsel, accounting, banking, all these things are well within the remit of a good broker. When dealing with property, all paperwork relevant to leases and buildings will be assessed and completed. A good broker knows how to coordinate all the factions for quick and smooth completion. Any outstanding issues will be noted and discussed with the buyer.
The accounting processes of the business being sold will come under scrutiny. Different companies run different accounting policies. Some aim for the conservative profit structure while others are all out earnings. Proving the maximization of profits will work well when agreeing on a sales price.
A good broker will be able to guide you through the easiest reader-friendly way to showcase all previous successes. Profit and loss accounting for two to four years is a must as are the details of any commercial advantages or industry-leading tech or innovations. These will all add to the overall price people will be willing to pay.
Opportunities to sell your business will need to be pounced on. A good broker will work hand-in-hand with the seller to prep the business for sale. Queensland (QLD) is always a great place to look for long-running business success. Thus, business sales in this area need an expert hand. Business owners wanting to sell a business can achieve a higher price when working with a broker.
This preparation is called an Exit Planning Strategy. A good broker will create a good strategy, this work-up will mean better compensation for the seller and a timely conclusion. The outcome is an award with which the broker goes forth to another client. A broker is a good as the last sale. This means total dedication to executing the deal. Bearing this and statistics in mind, a broker with panache can raise the selling price by up to 20%.
A broker’s qualifications will mean selling advice is on point with no waffle. An experienced broker can tell the buyer’s intent. Things like someone who’s just browsing and can tell the serious players from the pretenders. Financial acumen and knowledge of the industry in question are good giveaways as to the potential of the sale.
Business Sales Plan
The time will come for the signing and the handover. One gives money the other the business and all within. The sales plan and documentation must be impeccable and irrefutable. This is where the expertise of the broker really shines. After which a marketing plan ensues. These things must be completed before putting a business up on the market.
The vendor must ensure the company books are up to date. The buyer and his team will need to see clear and precise facts and figures relating to all aspects of the business. The buyer needs a clear picture of the company’s operations. Your broker will ensure these basic demands are met and even surpassed. Also, the broker will offer ways to explain key things or issues surrounding the company and its dealings to the experts on the buyer’s end.
Marc Phillips Your Busines Broker
Marc Phillips originally served the community as a police officer for six years in New South Wales, Australia. After relocating to England he began working ten more years in fast-paced markets of the USA and UK before becoming an expert at business brokerage with his 15-year career under his belt. Marc is experienced enough to achieve top prices when it comes down to selling businesses that clients are interested in being a part of. Marc’s easy-going nature and professional approach allows him to relate and understand diverse cultures, categories, and products. This puts his clients at ease during the sales process.
You might be wondering why I am only paid by results, and it is because this ensures we are focused on achieving the best possible price for your business. Let me use a common obstacle at the point of listing: Seller believes their business is worth x, but we know the business is worth less than what they’re asking. Instead of simply appeasing them with an inflated value that doesn’t match reality in order to collect my fee (which would just bother everyone), let’s work together and get you as close to what you want without going overboard!
Some agencies charge a listing fee, an initial marketing fee, monthly management fees and producing the property information memorandum. These types of compensation models can cost anywhere between $5k to $10k per year for customers while making nearly half or more in commissions after expenses. I chose flat-rate pricing which covers all initial marketing costs and produces every document required throughout the lifetime of this investment sale including any adjustments that need to be made over time as well so there are no surprises down the road!
If you looking to buy or sell a business in Queensland (QLD) then an experienced broker is a must. A professional and experienced business broker will expedite the completion of a successful handover.
Marc Phillips can deal with any business sale from the Gold Coast all the way up to the Sunshine Coast in addition to all the important things that go with it. He has 15 years experience in all manner of company sales. CONTACT Marc now.