Selling Your Business in 2019
If you are looking to sell your business in 2019, then you’ve chosen a good time to do so. Despite of unstable economic conditions, buyer confidence is high and successful businesses are attracting quality offers. Other than that, low interest rates are making it possible for buyers to buy businesses at serviceable borrowings.
Despite this good timing, selling your business can still seem overwhelming. Your motivation about selling your business will decide that how you feel about it. For example, if you have led the business to great success and you have decided to get out on top, or if you are moving to another business; then getting your business ready for sale can be exciting. It can also be an aim, if you are planning to retire.
However, if poor profits or some unexpected life circumstances are forcing the sale, then the process of business sale can be stressful. But there are some tips to make this process easier. These will also ultimately prove to be more rewarding and profitable.
First off all, it is necessary to hire financial, legal, tax, and business advising expertise to ensure the process of sale goes as smoothly as possible. There will be many details that show up for which you may not be ready, so having the proper resources will be helpful.
The news of the sale of a business may send its customers or clients into panic mode. It is best to keep an on-going sale quiet until you have found a buyer and finalized the deal of the sale. This includes determining how you will transition your customers to the new owner.
CBC Business Sales will give your business market visibility and will increase your chances of finding the best buyer. CBC Business Sales will also help you to appraise and set a realistic asking price and will help you for marketing and can contact buyers on your behalf.
If the business is doing great, it can be tempting to put a very high asking price. Actually, there are many factors that a buyer will look at when considering to purchase. Consider how you would view the business from all angles if you were the buyer. Buyer will consider client relationships, profits and the personal investment of time that will be required for the new owner; to make the transition successful. So, set your asking price accordingly.
The legal work for the sale of the business starts way before you are ready to put it up for sale. All potential buyers will want to see financials, taxes and any existing contracts pertaining to the business. Take your time to get all of those things organized and it will help to ensure a smooth process from start to end. Get all of the financial, tax records and cash flow reports in order for the past three years.
Ready to sell? Contact CBC Business Brokers Sydney today on 1300 661 498 for a free strategy session.
CBC Business Brokers Sydney
Level 34, AMP Centre,
50 Bridge St,
Sydney NSW 2000
T: 1300 661 498