This is an essential part of the process. Strengths or weaknesses, possible fails or rouge bookkeeping are all examples of things to watch out for. A broker will analyse the data and brief you on any concerns. Then there is what can be improved on, changed or updated. Growth potential and projections will all be poured over by a good broker.
Presentation of The Business
A good broker will make the business presentable. Every aspect and every nook and cranny needs to be considered before a sale. You must make your business presentable in order to gain the best offer. A broker will take you through what you should look at and investigate any areas that he or she feels need attention.
You may need to repair some equipment for example. The buyer may feel if something is broken then other things may have not been in working order too. A buyer will want to see love and attention poured on every aspect of the business. This will feed them confidence and boost their appraisal.
Every business depends on employees and staffing to succeed. Contracts and wages will need to be considered moving forward. A star employee may not feel comfortable with the new order. You’re selling the embedded success of the business, the staff are part of that. Any issues with possible loss of the human machinery may put off the buyer.
The same goes for the customers. After all, they are the ones providing revenue and therefore profit. A broker will ensure these customers will stay on and continue in the success of the business. The buyer may already run a successful business elsewhere and know what he or she needs to thrive. The sale price depends on the little things as well as the big ones. Especially in a bustling consumer area like Brisbane and Gold Coast.
Business brokers will ensure the operation running will continue as is. You may need to agree to continue in some capacity to grease the wheels of change. A well-established business is attractive to a buyer and that buyer needs to know it will remain highly profitable.
Depending on the business a minimum of three years of financials provided by your accountant will be required along with supporting documentation including commercial leases, franchise agreements and state licences when required.
If you are planning a business sale in Brisbane we are well-positioned and knowledgeable. We also serve places like Jimboomba, Ipswich, Browns Plains, the Gold Coast and all Queensland areas.
With fifteen years experience give me a call today to discuss your unique situation and obtain professional advice in relation to what steps are required to help you achieve a premium price for your business.