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Selling Businesses
Selling businesses is not a job for amateurs. It is a far more complicated process than selling a house. selling businesses involves so many stakeholders, each of whom have the power of veto over the sale or can have a negative influence over the buyer going ahead.
Some of these stakeholders in the process of selling businesses include the buyers accountant, the buyer's lawyer, the buyers finance broker and also the buyers bank manager, plus emotionally involved stakeholders such as the buyers wife, husband, parents and buyers friends.Other stakeholders whose approval is necessary to allow a business purchase to go ahead include the managing agent, the landlord, the franchisor and the relevant licensing authorities.
Selling businesses aslso involves the seller having the sellers accountant, the seller's lawyer, the sellers family and friends and the sellers franchisor all "onside and co operative" in the selling businesses process.
So should selling a business be a do it yourself process?
No...the professional and logical way to selling businesses is to have one single expert to co-ordinate the sale, to act as a go between and to allow good communication to flow amongst all the stakeholders in selling businesses.
As the chairman of the business valuer network graham o'hehir says on the national business sales valuation website www.businessvaluer.net.au .... " the person who is the glue who keeps everyone on the ball and working towards the common goal of a successful buy and sell transaction is THE BUSINESS BROKER.
A good business broker will earn his success fee and then some...he will help in wealth creation for the buyer and wealth distribution for the seller. This is the secret to successfully selling businesses. "
