Would you like a valuation consultant to call you?
Small Business Selling
Small business selling is a process which requires patience, persistence and a co- operative effort.
It is generally not recommended that small business and small franchise selling be viewed by the owner as a 'do it youself task'
Why? well unlike selling a house, the business of selling a business or franchise is fraught with danger, complications, the risk of a deal collapsing, risk of ending up with an unhappy buyer and worst of all a risk of a small business selling for too little!
How do you know what your small business sale is worth? Will you end up asking too much and have the problem of the buying marketplce ignore your business? ... and what if you underprice the business?... it would be tragic if you receive hundreds of thousands of dollars less than could have been achieved in a fair market sale.
We recommend the following process....firstly engage a business valuer and get a valuation report done. The business valuer will liaise with your accountant and produce a credible, defendable overview of your business and its value on the open marketplce.
Secondly, give this report to two business broking firms and invite them to pitch on why they should be appointed to sell your business.
This should immediately result in a cost saving,, as the business brokers should not need to ask you for a 'listing or profile fee' as they have been given a comprehensive business valuation prepared by an unbiased expert. this will help the business broker in presenting your business for sale to interested prospective buyers.
In summary ...small business and franchise selling needs a co ordinated team effort. it is not a do it yourself task. rather it is a job for professionals. Your best efforts should be applied to operating the business, not in attempting to sell it ouyself.
