If you own a business in Sydney or the anywhere in the NSW,
and is thinking of putting up your business for sale, you need to prepare
before you contact any of Sydney’s business brokers.
Plan Ahead
Businesses merge and are sold all the time and for varying
reasons. Sometimes it’s the only choice
for it to survive, and sometimes it’s because the owner needs to be more liquid
to chase another business venture. And
sometimes, the offer is just too good to pass up and you have another business
idea up your sleeve anyway. No matter
what the reason, it is better to be prepared for any eventualities, questions
and documentations that may be required.
Identify realistic
targets
Before you talk to your business broker, do your homework
first. Sydney has a number of great
business brokers but it is important to do our part. All the preparations
should be geared towards making your business as saleable as possible. And in business, careful planning is a good
way to go.
Planning begins with a goal. A goal gives you a reason to
move ahead, planning gets you there. Set
your target timeline and have set reasonable target price. It takes a year or two to prepare your Sydney
business into marketable one, especially if your financials is not up to
date. A year or two is enough for you to
build a good financial profile that can help your Sydney business brokers sell
your business and the buyers to make decisions easy.
Make your business
look good on paper
Consider then, what makes businesses look profitable? Buyers
look at the company profile, steady cash flow, marketability of the product and
service. Your company profile should be
well written, straight forward and should have important facts which include
your perceived market share, your client base, summary and overview of cash
flow and inventory levels. Your
financial statements should be as comprehensive as you can make it.
Look for the best
business brokers
Once you have prepared yourself, it’s time to choose from several
Sydney
business brokers, its better to deal with local business brokers as
they know the market well. It is better
to look around when you are not pressured to sell your business
immediately. A decision made in haste is
always a bad one. It is important to
sign up with Sydney business brokers
you are comfortable with and gives you the guarantee that they can make a sale
within a given amount of time. Be wary
of those who promise that they can sell at a high price, you may end up waiting
for a long time.
