What type of businesses should I be looking at?(how do I know what is out there and suitable?) Know your strengths and know what you enjoy. This means that the skills you have developed or learnt in some way match those required in the business you end up buying and
What is the process if I am interested and potentially heading towards making an offer?(steps to getting ready to make an offer) Okay, you have been through quite a process so far in looking more deeply at a business you like. You have sought advice perhaps from your accountant, know
Finding a business for sale may depend on what type of business you are looking for and what price your budget will extend to. Here are some places and ways you might find a business for sale; 1. Key word search via your internet browser for example: café for sale
How to engage the broker or the owner? Be transparent with the broker and owner – offering a little about yourself Ask fair dinkum questions that the answers will help you make a decision to withdraw or progress Communicate your feedback as honestly and quickly as you can to the
What should I do with the information and what questions should I ask? With any enquiry you make on a business the agent should have you complete a confidentiality agreement if not straight away at least after providing you with some general information. At Merchant Business Brokers buyers can register
We can help you understand what your business is worth and why, what is happening in the market and what can be done to maximise your sale price (2 see our maximising your sale price) Maximising your sale price is a huge process and undertaking this as a goal ideally
You must have ready and up to date all documentation that will be required – not just for the buyer, but also for their accountant, financier and solicitor ( Essential documents to keep up to date) Ensure where possible you have accountant prepared financial statements ideally for 3-5 years. These
We prepare a detailed and well-presented information memorandum which is a great selling tool (see our building the perfect IM tips) Does the perfect information memorandum (IM) exist? Probably not. We like to think the IM provides a really good general brief about various components of the business yet isn’t
We prepare a marketing strategy which can be essential to managing confidentiality and also make a huge difference to achieving the highest price and a quicker sale. (see our options and strategy checklist) Every business is different and whilst some are okay to be known to be for sale others
