10 Tips to help your Broker get Best Price and a Quick Sale

1 Establish a reasonable Asking Price.Inflated expectations can delay the Brokers ability

                                        to get you the best price for your business in the shortest time.

                                        At Elliscorp you will get a Free Business Appraisal Report and suggested Asking Price.

2 Carry on Business as usual.

                                        Dont get so obsessed with the transaction that you neglect the business so that this

                                        effects sales,costs,and profits.The selling process can take months and the Buyer

                                        wants to see a healthy business.

3 Keep Things Confidential. Expert Brokers  will ensure confidentiality for both parties.

4 Prepare for the Sale well in Advance

                                          Get your financial accounts and records for at least 3 x Years well up to date.

5 Anticipate the Buyers Requirements.

                                            To get finance the Buyer will need appraisals on the Assets,Trading and Profit and Loss

                                             Accounts ,lease details to present to the lender for cash flow purposes.

6 Create Buyer Competition.

                                             Work with your Broker as a third party to create a competitive situation amongst the

                                             the Buyers to get you the highest price in the shortest time.

7 Be Flexible.                       Dont demand all cash at settlement without negotiating.

                                             You may have to consider some vendor finance.

                                             Get advice from your Broker and Accountant.

                                             Their knowledge of getting finance  and tax is vital.

8 Negotiate dont Dominate.  You may be used to being the boss. But the Buyer may also be.

                                              Your Broker will advise you on  when to "hold" and when to "fold"

9 Dont let Time Drift on the Deal;

                                            Work with your Broker,Accountant and other experts to ensure everyone sticks to

                                            the time schedule.

10 Stay Involved in the Business. You may be tired but the Buyer may want you to be accessible for a period.

 

                                      DID YOU FIND THIS HELPFUL? CONTACT ME FOR FURTHER INFORMATION.

                                             Nick Benwell ACA     M 0402 815 005      This email address is being protected from spambots. You need JavaScript enabled to view it.