Your Business Sold

The common options for selling a business

use an agent or manage the process yourself... can you go it alone?

There are two common routes to selling a business. The first is to use a professional agent, e.g. a lawyer or accountant but predominantly a specialist Business Broker. The second is to rely on advertising and manage the process yourself. The determining factor on which route to choose is usually based on the Business Valuation. Smaller businesses e.g. with a potential value of up to £500k may be best suited to an advertised sale. The main drawback of an advertised sale is that you (the seller) have to filter any enquiries and eventually negotiate and complete the sale. It is sometimes wise to introduce a business broker once a number of leads have been created negotiate a reduced fee for the service. Larger businesses e.g. £500k and above will generally benefit from the involvement of a business broker.

What do I need to know about selling my business? How can I avoid common mistakes?

It is important to understand:

• What your options are <<
• What is a business broker?
• What are the different types of broker?
• What do business brokers charge?
• How much is your business worth?
• Selling a business without a broker, should you go it alone?
• How does advertising work?
• What should I pay to advertise?
• Do’s and Don’ts, common mistakes made when selling a business
• How do you get maximum value?
• What is an exit strategy?